Crypto-Follow logo Crypto-Follow logo
TipRanks 2022-03-02 20:47:48

Bitcoin: Economies of Scope Are the Way Forward for the BTC Mining Industry

One of Bitcoin’s (BTC) most appealing features for investors is its fixed supply. Only 21 million coins will ever exist, encoded in the software, most of which have already been mined. This makes the asset scarce and naturally gives it value, but according to B. Riley analyst Lucas Pipes, the remaining supply of 2.03 million represents to bitcoin miners a bit of a “conundrum.” It presents questions regarding the ultimate size of the industry and opportunity in the digital mining space. Ultimately, Pipes believes that for “long-term differentiation and value creation,” those that want to remain relevant in the industry are those who focus on “economies of scope.

#
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer