Opinion: Bitcoin is in a deflationary state, Strategy's purchasing speed exceeds miners' extraction speed
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On May 10th, CryptoQuant founder Ki Young Ju stated that Bitcoin is deflationary. The speed at which Strategy purchases BTC is faster than the rate at which Bitcoin miners extract it. The 555,000 BTC they hold is illiquid, with no plans to sell. MSTR's holdings alone imply an annual deflation rate of -2.23%, and with other stable institutional holders, the deflation rate could be even higher.
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