Bitcoin Is Now Scarcer Than Gold Bitcoin’s annual supply growth has fallen to roughly 0.82%, already below gold’s estimated 1.5–2%. And unlike gold, that gap is designed to keep widening. When gold prices rise, higher margins can make more mining economically viable, allowing production to respond. Bitcoin works differently: a higher BTC price cannot create more new Bitcoin. Issuance follows a fixed schedule regardless of demand. After the next halvings, annual supply growth is expected to fall toward: 2028: ~0.4% → 2032: ~0.2% → 2036: ~0.1% That’s the part of Bitcoin’s scarcity thesis that matters most. It’s not simply that supply is limited to 21 million. The flow of new supply becomes progressively harder to expand while demand has no such limit.