Even though it can sometimes be difficult to remember with the huge total caps of other cryptocurrencies, there are only 21 million in BTC that can be issued when it comes to the leading cryptocurrency. However, of the total 21 million Bitcoin, there are just 2.5 million left behind for miners, if they want to get their hands on it. The rest has already been mined. A tweet was made by ChartBTC, which showed that the Bitcoin Network had already crossed the 18.5 million BTC mark, in regard to the coins in circulation. There is one thing to be learned from these numbers; there are a total of 2.5 million BTC that can still be mined. After that, no more BTC will be available.
If you crunch the numbers, this will show that 11.9% of the total Bitcoin supply still remains to be minted by the miners. Along with this information, ChartBTC also elaborated that half of the 2.5 million units of Bitcoin that remain will be mined within a time period of four years. Back in 2009, ever since the Genesis block was made, a total of three halvings have occurred on the Bitcoin Network. The last halving event had taken place this year in the month of May.
Due to the halving, the issuance of new coin is halved once in every four years, which means that the very last units of Bitcoin will not be mined until the year 2140. Everyone reading this would probably be dead by then. However, once these final units are mined, there will no longer be any more Bitcoin available. Luckily, there is still a long time to go until this happens. Back in May, before the halving event, it was reported that this year’s halving would turn out to be different. It had been speculated by experts that Bitcoin halving this time around would be different and they were proven to be true.
The fact is that the macroeconomic environment of Bitcoin had changed. A key indicator of this was the fact that more and more people were now considering using Bitcoin as a hedge and were keeping their life savings in the form of BTC, as compared to the traditional monetary system. Moreover, there has also been an increase in institutional demand for Bitcoin since the beginning of 2020. According to a survey, institutional-level investors are planning to increase their investments in Bitcoin, regardless of the dips in its price in the short-term.
This was done through MicroStrategy, which is currently the world’s largest sovereign wealth fund. Now, this wealth fund is the proud owner of an impressive 577.6 BTC, as part of its total holdings. It is apparent that times are now changing, with Bitcoin becoming more mainstream and its adoption increasing globally. The pioneer cryptocurrency has reached a very important milestone. Nonetheless, there is still a century to go before the last of Bitcoin is mined and its price and value is expected to go up in the coming years.
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