Bitcoin: Economies of Scope Are the Way Forward for the BTC Mining Industry

One of Bitcoin’s (BTC) most appealing features for investors is its fixed supply. Only 21 million coins will ever exist, encoded in the software, most of which have already been mined. This makes the asset scarce and naturally gives it value, but according to B. Riley analyst Lucas Pipes, the remaining supply of 2.03 million represents to bitcoin miners a bit of a “conundrum.” It presents questions regarding the ultimate size of the industry and opportunity in the digital mining space. Ultimately, Pipes believes that for “long-term differentiation and value creation,” those that want to remain relevant in the industry are those who focus on “economies of scope.