I just noticed an interesting debate in the Bitcoin community. Samson Mow, the CEO of Jan3, spoke up and refuted a thesis by Michael Saylor regarding Bitcoin scarcity. Saylor argued that the limited supply of Bitcoin makes it impossible for everyone in the world to own Bitcoin.

Samson Mow responded by doing the math. His result: if all 21 million Bitcoin were evenly distributed across the global population, each person would have about 259,259 Satoshis. That is indeed an interesting perspective and shows that the supply theoretically suffices.

But it gets complicated here. Saylor's point still has validity because, in reality, it looks different. Large institutions like MicroStrategy are accumulating Bitcoin massively and already hold about 3.5% of the total supply. That’s the crux. While Samson Mow is mathematically correct, the practice shows that Bitcoin is concentrated in a few hands.

This actually underscores the scarcity narrative even more. The more big players accumulate Bitcoin, the more genuine the scarcity becomes. And that could ultimately be the key driver of Bitcoin’s value in the long run. An interesting exchange between the two.