Zcash Co-Founder Questions Bitcoin’s 21M Cap, Seeks 4% Growth

Zcash co-founder Eli Ben-Sasson questions Bitcoin’s 21M supply cap, proposing 4% annual growth to offset lost coins.

Zcash co-founder Eli Ben-Sasson has questioned Bitcoin’s fixed 21 million supply cap in comments shared on X. His remarks have reopened debate over Bitcoin scarcity and long-term market liquidity.

Ben-Sasson said private keys will keep being lost as time passes. As a result, some Bitcoin may remain locked forever and leave usable circulation.

He said he still supports a monetary system with an absolute cap. However, he suggested a fixed maximum growth rate as another possible approach.

His example was a 4% annual issuance rate to match human growth and support liquidity. The view contrasts with Michael Saylor’s demand-based Bitcoin thesis.

Ben-Sasson Raises Concern Over Lost Bitcoin Keys

Ben-Sasson said Bitcoin’s fixed cap deserves review because lost keys reduce accessible supply. Once private keys are lost, the related coins cannot be moved again. Over time, this may lower the amount of Bitcoin available for use.

Capping the supply of Bitcoin at 21M doesn't make sense. Beacuse over time, keys will be lost. In fact, as time goes to infinity, all keys will be lost.

I strongly support a clear monetary policy with an absolute upper bound on the # of Bitcoins in the future. Say, fix a max…

— Eli Ben-Sasson | Starknet.io (@EliBenSasson) July 7, 2026

Bitcoin’s 21 million limit remains one of its best-known design features. Many supporters see that cap as the foundation of its scarcity. Therefore, any challenge to the model often draws strong debate.

However, Ben-Sasson focused on long-term access rather than short-term price action. He argued that lost coins create pressure on usable supply. His comments placed key loss back into the Bitcoin policy discussion.

4% Annual Growth Proposal Draws Market Attention

Ben-Sasson suggested a fixed maximum issuance rate as one possible supply change. He gave 4% per year as an example for future growth. In his view, this could keep supply aligned with population growth.

Zcash Co-Founder Suggests Bitcoin Move Away From Fixed 21M Supply Cap and Grow 4% Annually

Zcash co-founder Eli Ben-Sasson said on X that he questions the rationale behind Bitcoin’s fixed 21 million supply cap. He argued that private keys will continue to be lost over time and… pic.twitter.com/Vvag8PJnry

— Wu Blockchain (@WuBlockchain) July 8, 2026

The proposal does not call for unlimited Bitcoin creation. Instead, it keeps a clear rule for future issuance. Ben-Sasson said he supports an absolute cap, but with a different strategy.

Still, changing Bitcoin’s supply rules would require wide network support. Developers, miners, node operators, and holders would all be part of the process. Without broad agreement, the 21 million cap would remain unchanged.

Read also: Bitcoin Flashes 3 Bullish Signals as Exchange Inflows Hit Extreme Levels

Debate Differs twitterMichael Saylor’s Bitcoin Thesis

Ben-Sasson’s view differs from the case often linked to Michael Saylor. Saylor has argued that rising institutional capital can support Bitcoin’s long-term growth. That view depends on demand increasing against a fixed supply.

By contrast, Ben-Sasson placed more weight on lost coins and market liquidity. His proposal treats inaccessible Bitcoin as a future supply problem. This creates a different view of how Bitcoin should serve users.

For now, Bitcoin continues to follow its fixed 21 million supply cap. The discussion shows how supply design remains central to crypto markets. Traders are now weighing scarcity, lost keys, and liquidity within the same debate.