An essay by George Ford Smith critiques the Federal Reserve's inflation policy and supports Bitcoin's value as a store of wealth due to its fixed issuance limit of about 21 million BTC, correcting his earlier error of stating the cap as 21 BTC. Bitcoin's supply is capped and its block subsidy halves every 210,000 blocks, but this alone doesn't guarantee future purchasing power. Smith also discusses inflation rates, noting that a 2% annual inflation rate would double prices over 35 years, a mathematical compounding result rather than a Fed forecast. The Federal Open Market Committee maintains a 2% inflation target based on the personal consumption expenditures price index, while Smith references the consumer price index in his analysis.
George Ford Smith's essay on Bitcoin's supply cap offers context for readers. For those following cryptocurrency markets, 42 of 50 major cryptocurrencies rose on Pluang as of Oct 21, 2026 11:51 WIB. Notable movers include BAL at Rp16.297 (+11.14%), THETA at Rp3.705 (+9.88%, with 100% sell orders), and EOS at Rp12.649 (+8.13%).
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