"In 2026, scarcity has taken on a different meaning. It is no longer defined solely by limited supply or production constraints. Instead, it increasingly depends on how narratives are constructed and combined, shaping how investors perceive value. Bitcoin ( BTC), gold and silver each assert scarcity in distinct ways. However, investors now tend to evaluate them not only by how rare they are but by how they function within modern financial markets. Considerations increasingly include narrative pricing, market structure and ease of access."
"Repricing scarcity does not involve forecasting which asset will outperform others. Instead, it refers to how market participants reassess the meaning of scarcity and determine how much they are willing to pay for its different forms. In past decades, scarcity was commonly understood as a physical constraint, and gold and silver naturally aligned with this definition. Bitcoin, however, introduced a new concept: scarcity enforced by programmable code rather than geological limits."
Scarcity in 2026 is increasingly determined by narratives, market access and financial structures rather than physical supply limits. Bitcoin's scarcity is mediated by ETFs and derivatives, changing access, pricing and market behavior through financial wrappers and programmable supply rules. Gold's scarcity depends less on mining output and more on trust, neutrality and reserve management by custodians and central actors. Silver's scarcity reflects a dual role as both investment metal and industrial input, creating price tension between monetary demand and industrial consumption. Market participants evaluate scarcity through credibility, liquidity and portability when pricing and allocating scarce assets.
Read at Cointelegraph
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