Burning Bitcoin Keys for Long-Term Scarcity
MicroStrategy Chairman Michael Saylor has proposed burning Bitcoin private keys upon death to permanently eliminate Bitcoin from circulation, thereby exacerbating Bitcoin’s scarcity. Bitcoin has a fixed supply of 21 million coins, and its value continues to rise due to limited availability. Saylor’s idea could tighten the circulating supply, mirroring the impact of dormant coins like Satoshi Nakamoto’s 1 million Bitcoins. Thaler advocates treating Bitcoin as a scarce, long-term asset, an approach he believes can boost its value. If widely adopted, this strategy could reshape Bitcoin’s future by exacerbating scarcity and driving increased demand for remaining coins.
