When PlanB released its widely-circulated bullish paper, titled “Modeling Bitcoin Value with Scarcity,” in 2019, he raised many eyebrows for predicting a $1 trillion market valuation for the world’s first truly decentralized cryptocurrency.
In retrospect, PlanB noted that certain precious metals, such as gold, have historically maintained a monetary role because of their costliness and limited supply rate. He then applied the same argument to Bitcoin, which becomes more valuable as a preprogrammed algorithm reduces its supply by half every four years to mint 21 million units ultimately.
