Bitcoin Infinity Day Celebrates Scarcity with Trading Halt
Today is Bitcoin Infinity Day, celebrated by buying more Bitcoin or doing nothing at all as trading is suspended.
The date itself hides a mathematical code. Removing the '8' from August 21 results in ∞, while '21' refers to Bitcoin's fixed 21 million coin cap.
This concept was first proposed by Swedish author Knut Svanholm on August 10, 2021, as a coordinated trading halt using the hashtag #BitcoinInfinityDay. He based his idea on the mathematical equation of dividing all assets by 21 million, which has no upper limit.
Five years later, the day has become an annual event in the Bitcoin calendar, with the community reposting the '∞ / 21M' symbol every August. The underlying argument is based on scarcity, as the value can increase towards infinity due to the fixed supply of coins and unchanged demand.