As US banks run out of currencies, Bitcoin continues to advance

The American economy is suffering from a currency shortage. In this sense the Milwaukee Community State Bank (CSB) is Customers who deliver coins to one of their locations receive a five percent premium. In the meantime, Bitcoin (BTC) is not expected to run out of Satoshis anytime soon.

CSB announces

CSB announces “crazy times”. Source: CSB site.

COVID-19 is the culprit

As US banks run out of currencies, Bitcoin continues to advance
As US banks run out of currencies, Bitcoin continues to advance

Apparently, This problem is due to other complications caused by the COVID-19 pandemic. These reasons include that the U.S. coin has cut coins to protect its employees and that U.S. consumers have tried to avoid cash transactions as much as possible. Many believe that the recent crisis will serve as a catalyst for the transition to a cashless economy.

Billions of Satoshis

As far as we know, Bitcoin has not encountered a similar problem and is unlikely to do so in the future. To date, 18.44 million bitcoins or 1.84 billion satoshis are in circulation. If at any time 1 Satoshi became too valuable due to the massive appreciation of the asset, the community could use a hard fork to introduce an even smaller unit. A suitable name for the new basic designation “CSW” might be.

The US Mint went back into operation last month and is expected to produce 19.8 billion coins by the end of the year.

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