A look at Dhruv Bansal's conceptual view of the issuance process of fresh bitcoin from a new angle. They aren't being created, they're simply being unlocked.
As evidenced by historically high levels of long-term holders, it’s clear that bitcoin's supply is getting more distributed across a vast array of adopters.
The exponential price appreciation after the Bitcoin halving is more of a function of buyer demand than it is of the supply-side reduction of the block subsidy.
