Due to its predictability, cryptocurrency investors often overlook Bitcoin (BTC) supply inflation. Understanding that predictable inflation still has economic effects can leverage investment results in this market.

由于其可预测性，加密货币投资者经常忽视比特币（BTC）的供应通胀。了解可预测的通货膨胀仍然具有经济影响可以利用该市场的投资结果。

In particular, Finbold looked into Bitcoin’s supply inflation from a different perspective. We aimed to understand the practical effects of these economics and provide valuable insights for BTC holders. This is achieved by calculating the exact price Bitcoin would trade if it ever hits its highest market cap.

特别是，芬博尔德从不同的角度研究了比特币的供应通胀。我们的目的是了解这些经济学的实际影响，并为 BTC 持有者提供有价值的见解。这是通过计算比特币达到最高市值时的确切交易价格来实现的。

Proportionally, a commodity’s inflationary supply requires more demand in order to keep its same value (or price). These two factors influence whether a commodity price rises or falls. Each cryptocurrency, including Bitcoin, has its unique economic structure.

按比例来说，商品的通货膨胀供应需要更多的需求才能保持其相同的价值（或价格）。这两个因素影响商品价格的上涨还是下跌。包括比特币在内的每种加密货币都有其独特的经济结构。

Notably, Bitcoin had an all-time high market cap of $1.302 trillion on November 10, 2021, according to TradingView’s index. Meanwhile, BTC was trading for as high as $68,789, as registered by CoinMarketCap. An inverse calculation suggests a circulating supply of around 18.927 million BTC at that time.

值得注意的是，根据 TradingView 的指数，2021 年 11 月 10 日，比特币的市值达到 1.302 万亿美元，创下历史新高。与此同时，根据 CoinMarketCap 的记录，BTC 的交易价格高达 68,789 美元。反演计算表明，当时比特币的流通量约为 1892.7 万枚。

Bitcoin supply inflation and its economic effects

比特币供应通胀及其经济影响

Let’s explore BTC’s supply inflation and its economic implications. On November 30, Bitcoin had a circulating supply of 19.557 million coins. This results in a supply inflation of 630,000 BTC (3.32%) in two years, or around 1.66% a year.

让我们探讨一下 BTC 的供应通胀及其经济影响。截至 11 月 30 日，比特币的流通量为 1955.7 万枚。这导致两年内供应膨胀 630,000 BTC (3.32%)，或每年约 1.66%。

The price projection also shows the relevant economic effects of this inflation. In case the leading cryptocurrency reaches its highest speculative demand of $1.302 trillion market cap, BTC would trade at a proportionally lower price than the corresponding all-time high.

价格预测还显示了这种通货膨胀的相关经济影响。如果领先的加密货币达到 1.302 万亿美元市值的最高投机需求，BTC 的交易价格将按比例低于相应的历史高点。

Considering the circulating supply at the time of publication, Bitcoin would trade for $66,574 at its highest capitalization. Interestingly, a loss of $2,215 (3.2%) from the previous price in 2021.

考虑到发布时的流通供应量，比特币最高市值时的交易价格为 66,574 美元。有趣的是，与 2021 年之前的价格相比，损失了 2,215 美元（3.2%）。

However, this still indicates a potential 77% increase from the current price of $37,600.

然而，这仍然表明比当前 37,600 美元的价格有 77% 的潜在上涨空间。

It is important to understand that the forecast requires the same demand as 2021 for Bitcoin. In this context, there are no guarantees that this demand will ever be seen again. On the other hand, it is also possible that a higher demand surges in the following years.

重要的是要了解，该预测要求比特币的需求与 2021 年相同。在这种情况下，无法保证这种需求会再次出现。另一方面，未来几年也有可能出现更高的需求激增。

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

免责声明：本网站的内容不应被视为投资建议。投资是投机性的。投资时，您的资本面临风险。