
Can BlackRock change the Bitcoin supply limit?
December 19, 2024
Since December 17, 2024, discussions about the supply limits of BTC have resumed in the cryptocurrency community following the release of a video from BlackRock. In the video, the company stated that "there are no guarantees" that the 21 million coin supply cap for the digital currency will not be changed. Despite the emphasis on the benefits of a fixed supply, this statement has sparked new debates among supporters and critics of cryptocurrency.
Key characteristic
The 21 million BTC supply cap is a key characteristic that ensures its value as a store of value and prevents inflation. This cap sets it apart from traditional currencies, which are subject to uncontrolled issuance, and provides stability for investors. However, as BlackRock points out, changing this rule could significantly affect its perception and value.
Can the emission limit change?
BlackRock’s statement raised the question of whether the emission limit for the crypto asset could change. Theoretically, this is possible through a hard fork, but for this to happen, consensus would be needed among developers, miners, and investors. If the majority supports such a fork, a version of Bitcoin with an unlimited supply would emerge. However, according to developer Super Testnet, changing the limit would destroy not only the economic model but also the philosophy of electronic money, turning it into something entirely different.
Debates on the future of cryptocurrency
Super Testnet, a leading developer of digital gold, stated that the "inflation ceiling" is a core principle from Satoshi Nakamoto’s white paper, and any changes to this parameter would alter the essence of the system. Supporters of the original concept believe that such changes would lead to the loss of Bitcoin's uniqueness and decentralization.
Debates over the future of the crypto asset were reignited after Michael Saylor reposted BlackRock’s video. Joel Valensuela from Dashpay noted that discussions about changing the supply limit are not new, while Antiprosynthesis from Ethereum stated that BlackRock may understand Bitcoin better than its supporters.