While U.S. banks are running out of coins, Bitcoin continues to move forward

The American economy is experiencing a shortage of currency. With this in mind, the Community State Bank, or CSB, of Milwaukee is offering a five percent bonus to customers who deliver coins to one of its locations. In the meantime, Bitcoin (BTC) is not expected to run out of Satoshis anytime soon.

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COVID-19 is the culprit

Apparently, this problem stems from other complications caused by the COVID-19 pandemic. Reasons given include that the U.S. Mint reduced coins to protect its employees and that U.S. consumers have been trying 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.

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Satoshis Quadrillions
As far as we know, Bitcoin Storm has not encountered any similar problems and is not expected to do so in the future. As of today, there are 18.44 million Bitcoins or 1.84 trillion Satoshis in circulation. If at some point 1 Satoshi becomes too valuable due to massive asset appreciation, the community may implement a hard bifurcation to introduce an even smaller unit. Perhaps, an appropriate name for the new base denomination would be „CSW“.

Last month, the U.S. Mint went back into operation and is expected to produce 19.8 billion coins by the end of the year.