Grayscale Analyst: There isn't enough Bitcoin to meet all the new demand, supply and demand dynamics are driving prices higher
According to three analysts working for cryptocurrency fund management companies, since the beginning of February, Bitcoin ETF products listed in the United States have been purchasing an average of 3,500 - 4,300 cryptocurrencies per day. This far exceeds the 900 coins created daily by the Bitcoin network during the same period. Zach Pandl, Director of Research at Grayscale Investments, stated that there simply aren't enough Bitcoins to meet all new demand; therefore natural supply and demand dynamics are driving prices higher. And due to plans to "halve" (supply) within two months, more supply issues may arise. After halving, the daily new currency supply will decrease from 900 coins to 450 coins.
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