It’s Going to Be Wild for Bitcoin: Lightspark CEO Explains Why

A supply shock is on the horizon for Bitcoin, with its scarce nature and growing demand serving as a major catalyst for the impending wild rally. Lightspark CEO and co-founder David Marcus knows what’s coming for Bitcoin, the largest cryptocurrency by market cap. In a May 27 tweet , he suggested that things are going to get “so wild” from here on for the premier crypto asset. Scarcity Is Real Marcus identified a growing story of Bitcoin adoption among major financial players. The asset’s demand has gone institutional, so much so that Marcus has lost count of the number of companies racing to accumulate Bitcoin. An interesting detail of this strong demand is that Bitcoin is a scarce resource. The 21-million-capped asset, widely known as digital gold, already has 94.6% of its total supply in circulation. With depleting exchange reserves and increased accumulation by firms and long-term holders, Bitcoin’s supply is nearly extinguished. Meanwhile, Marcus highlighted that only 1.4 million Bitcoin tokens will be created in the next 115 years. For context, estimations show that miners will mint the last Bitcoin by 2140, precisely 115 years from now.  At the current mining rate of 450 BTC per day, it would have taken less time to mine the last Bitcoin. However, due to the pre-programmed halving event , scheduled to occur periodically up to 2136, the issuance rate of the pioneering cryptocurrency would continue to decline, adding to its scarcity. As a result, the Lightspark CEO noted that it is going to be wild for Bitcoin. The growing institutional acquisition of Bitcoin, combined with the limited available supply, would spark a supply shock and, consequently, a price explosion. For perspective, several market enthusiasts have tipped Bitcoin to continue to grow due to the escalating adoption. Standard Chartered has predicted $200,000 by year’s end, Cathie Wood says $1.5 million by 2030 , and Michael Salylor projected an ambitious $13 million by 2045. Firms Are Massively Accumulating Bitcoin In truth, companies are buying Bitcoin in no small amounts. Some use part of their reserve, others leverage growing interest from the legal financial sector to borrow funds and increase exposure, and others acquire using the Bitcoin spot exchange-traded funds (ETFs). Either way, institutions are becoming aware and stacking the priced digital asset. For instance, Michael Saylor’s Strategy (formerly MicroStrategy) has been incessantly piling into Bitcoin, leveraging corporate notes and common share offerings to raise funds. It currently holds 580,250 BTC, valued at $62.87 billion. Next, firms like Metaplanet and Marathon Digital are also employing a similar strategy as MicroStrategy to fund Bitcoin purchases. The former holds 7,800 BTC ($843 million), and the latter has 48,137 BTC ($5.2 billion). Meanwhile, GameStop , Semler Scientific, and The Blockchain Group are also actively buying Bitcoin. Remarkably, all three are leveraging Strategy’s playbook, offering users indirect exposure to Bitcoin as a business intelligence firm. In the Bitcoin ETF space, some prominent names are also gaining exposure to Bitcoin. Firms such as Goldman Sachs, Wells Fargo, Avenir Group, Barclays Bank , and Abu Dhabi’s sovereign wealth fund, Mubadala, hold investments in several spot ETFs, thereby indirectly acquiring Bitcoin. Meanwhile, other notable companies are also teasing the creation of a Bitcoin treasury. Trump Media announced yesterday that it would raise $2.5 billion to acquire Bitcoin as a strategic reserve asset.