Coinbase CEO Brian Armstrong highlights Bitcoin scarcity

Coinbase CEO Brian Armstrong stated that Bitcoin's supply is strictly limited to 21 million coins by its network rules, making it impossible to increase production through technological advancements. He compared Bitcoin to gold and lab-grown diamonds, noting that while new gold mines or synthetic production technologies can increase supply, Bitcoin's issuance is fixed by its protocol.

Approximately 95% of the total Bitcoin supply, or 20 million coins, has already been mined. Due to the halving mechanism, which reduces mining rewards roughly every four years, the remaining 1 million coins are expected to be mined over the next century, with the final coin projected to be issued around the year 2140.

Armstrong emphasized that this predictable supply distinguishes Bitcoin from fiat currencies, which can be expanded by central banks. While the 21 million limit could technically be changed if network participants reached a broad consensus, Armstrong noted that such a move would contradict the core value of Bitcoin's scarcity. He also clarified that while supply is capped, price remains subject to market demand.