According to CoinMeta, Joao Wedson indicates that the scarcity of Bitcoin is approximately twice that of gold, based on the stock-to-flow model. At the same time, Ethereum’s annual supply rate is 3.5 times that of Bitcoin. The new supply of Bitcoin is becoming increasingly scarce, with a historically low circulation volume, while Ethereum maintains a higher level of circulation intensity. He believes that Bitcoin will eventually exceed $1 million in value, assuming demand continues to grow, although it may take more time, but this is entirely acceptable. Scarcity alone does not create value; it is just one part of the equation. Continuous demand is crucial.