Hey there,
Have you been enjoying the recent price action?
We can't speak for everyone, but it's pretty crazy to think that a $70,000 Bitcoin could ever become boring. And yet, here we are!
But there's way more going on behind the scenes that might make you reconsider whether we're in a FOMO moment rather than a snoozefest.
Keep reading to learn more about what's been going on in the world of BTC and Sazmining 👇
Even if you're relatively new to Bitcoin, you know about the 21 million supply cap.
As we approach a future where acquiring Bitcoin could become (almost) impossible via exchanges or other purchase methods, the question arises - could this reality be just months away?
Before the halving, ByBit reported that based on ETF purchasing alone, the BTC supply on exchanges would dry up within nine months. While that may sound far-fetched, it's easily verifiable based on the number of bitcoins available on exchanges and what the spot Bitcoin ETFs reportedly purchase—simple math.
While the ETFs have hit a lull for the last couple of weeks, their purchase has not slowed down to the tune of millions of dollars a day.
Only three days ago, we learned that ETF providers are buying up 3x of what miners release daily and that the U.S. spot ETFs alone now hold approximately 2.8% of the total BTC supply.
As if this wasn't enough, the amount of Bitcoin available for purchase on major trading platforms is at its lowest since 2017. CryptoQuant puts the tally at 1,918,417 BTC as of May 19. A year ago, this was around 400,000 BTC higher.
Don't believe the news reports? You don't have to.
There are many Bitcoin ETF/supply trackers online that you can check against; we've provided one of our favorites below 👇
We're thrilled to continue offering the latest mining rigs at unbeatable prices!
Our commitment to providing exceptional value remains steadfast for everyone eager to start their mining journey. However, it's important to note that if Bitcoin's price experiences a significant surge, our rig prices must adjust accordingly to reflect these market dynamics.
Currently, miners are positioned near what we predict to be the "bottom of the demand curve." This means the best time to secure your prices and start hashing is NOW, not later.
Let's maximize every opportunity and stack those sats together! 💪
Kent has been active on the podcast circuit recently, and you'll see him on a lot more!
His latest was with a thought-provoking podcaster (and Sazmining customer), Trey Walsh of The Progressive Bitcoiner.
The Progressive Bitcoiner #88 - Anyone Can Mine Bitcoin with Kent Halliburton 👇
In this episode, Kent and Trey discuss Bitcoin mining’s environmental impact, incentives driving renewable energy use, deflationary effects on consumerism, and inevitable adoption.
Kent shares insights on running a Bitcoin business amidst regulatory risks and combating misinformation, while also suggesting the benefits of stacking sats via mining for lower costs and privacy.
I've been paying attention to Bitcoin since 2015, and I remember thinking about when it might eventually be impossible to purchase. The 2030s or 2040s, maybe?
Back then, even getting someone to buy Bitcoin on Coinbase was considered a massive win for adoption. However, the ETFs have changed everything, especially the game theory.
Without waxing poetic on the US financial system and its various incentives, I'll say this:
It's crucial to understand that the optimal time to acquire Bitcoin is now, not later.
Hopefully, you have a 4+ year time horizon, know how to use a hardware wallet, and have moved beyond the basics. If you haven't, then there's some catching up to do.
It sounds simple, but I've learned nothing is harder than starting!
So whether you're mining with Saz, DCAing with a Bitcoin-only company, or receiving BTC for your labor, my message is the same: start stacking before it's too late.
Our last newsletter was about being "late" to Bitcoin. While we're confident you're still early enough, the simple math is running against us for buying Bitcoin with some degree of affordability.
As we send this, the price hovers around the upper 60s mark, with continuous jolts above $70K.
What does that mean for the future?
Hint: 🚀
When you're ready to start mining using 100% hydropower, we'll help you sail onward into a bright orange future!
🌊⚡⛏️
Cheers,
The Sazmining Team
