Why Some Traders Say Bitcoin’s 21 Million Cap Is Being Diluted Off-Chain

Several X accounts person reignited a long-running statement successful bitcoin circles, arguing that a azygous onchain bitcoin present underpins aggregate fiscal claims crossed exchange-traded funds (ETFs), futures, perpetual swaps, wrapped tokens, and structured products. The argument, often labeled the “paper bitcoin” theory, draws nonstop comparisons to gold’s financialization successful the 1980s, erstwhile derivatives came to […]