The total supply of the world’s largest cryptocurrency Bitcoin (BTC) is 21 million out of which 18.5 million BTC has now been mined by miners. According to data from Blockchain.com, the total number of Bitcoins that are currently in circulation has crossed above $18.5 million now.
Less than 2.5 million BTC left to mine
ChartsBTC has reported in a tweet that the total circulating supply of Bitcoin on the network has now surpassed above $18.5 BTC. Approximately, 88% of the total Bitcoin supply has been discovered or mined so far. There are now only 2.5 BTC left for mining that represents 11.9% of the remaining Bitcoin supply that is yet to be discovered. According to ChartBTC, it will take four years for miners to mine half of the remaining Bitcoin supply.
The Genesis block had occurred in the year 2009 when the first-ever decentralized digital currency Bitcoin (BTC) was created. After that, three Bitcoin halvings in total have occurred on the Bitcoin network so far. In each halving, the block reward was reduced in half. The third Bitcoin halving occurred this year in the month of May in which the block reward was reduced from 12.5 BTC to 6.25 BTC. Bitcoin halving takes place every four years and this will continuously happen until there is no satoshi left for mining.
It is expected that the last Bitcoin (BTC) might be mined in the year 2140 and once the final Bitcoin is mined, the emission of new Bitcoins will get stopped there and no fresh BTC will be mined after that year.
Where Bitcoin’s circulation supply is increasing gradually, the interest in the leading digital currency is also spiking. Bitcoin has witnessed a significant increase in the institutional interest especially after the third major Bitcoin halving took place in the month of May. After that, investors started holding more and more Bitcoin.
The major achievement for Bitcoin was when the largest sovereign fund of the world MicroStrategy made an investment in the top-ranked cryptocurrency and has purchased a total of 577.6 BTC so far.