Following the April 2024 halving, Bitcoin’s stock-to-flow ratio doubled to 120, surpassing gold’s scarcity metric for the first time. That data point reignited debate: does a hard-coded supply cap translate into durable price appreciation? This guide examines how limited supply operates across token models, what the data says about scarcity-driven valuation, and where investors should apply caution. FinanceFeeds’ explainer on cryptocurrency provides essential background. How Hard-Cap Supply Creates a Structural Price Floor Bitcoin’s 21 million coin limit is enforced by thousands of independent nodes running the ... (full story)