The total Bitcoin supply which is pegged at 21 million has been repeatedly mined because the coin was first launched again in 2009. Now, 14 years later, the mined share of this complete provide sits at 93%, so how a lot BTC is left to mine?
93% Of Bitcoin Provide Already Mined
The whole mined Bitcoin crossed 19 million again in 2022 and the determine has frequently risen since then. Then in December 2023, the full share of the total BTC supply that has been mined crossed the 93% threshold, and Binance, the biggest crypto trade on this planet, took to Twitter to share this milestone.
In response to data from Blockchain.com, a complete of 19,560,877.158 BTC has been mined as of December 5. Which means that between April 2022 and December 2023, lower than 600 BTC had been introduced into circulation, exhibiting the diminished provide price of Bitcoin.
To place this in perspective, between January 2009 when Bitcoin was launched and January 2010, over 2 million cash had been mined, regardless of the asset being much less well-liked than it’s now. The subsequent few years may even observe this sample, till every halving cuts block rewards in half.
With the following halving occasion scheduled for 2024, the BTC block rewards are about to be reduce in half as soon as once more. This can see the quantity of latest BTC supply cut back drastically and this shortage is predicted to drive up the worth of the coin.
BTC stays above $43,000 | Supply: BTCUSD on Tradingview.com
How Many BTCs Are Left To Be Mined?
With 93% of the full provide already mined, it leaves somewhat over 1.4 million cash out of the original 21 million supply left to be minded. Nevertheless, this 7% of the provision left will take a significantly longer time to mine than the 93% of the already mined provide.
In response to the halving schedules, which is each 4 years, it is going to take one other 117 years for the 1.44 million BTC to be mined. The final block is predicted to be mined someday within the 12 months 2140, at which level, there shall be no extra BTC left to mine.
Which means that regardless of it taking solely 14 years to mine 19.6 million BTC, it is going to take virtually 10 occasions that period of time to mine the remaining 7% of the provision. The final Bitcoin halving event can be anticipated to happen in the identical 12 months.
When the entire BTC has been mined, it’s anticipated that miners will push for increased transaction charges as compensation for his or her actions since they’ll now not obtain rewards for fixing a block. Nevertheless, the worth of BTC is predicted to rise with every halving, protecting miners incentivized for years to return.
Featured picture from SemiDot Infotech, chart from Tradingview.com