The total Bitcoin supply which is pegged at 21 million has been constantly mined for the reason that coin was first launched again in 2009. Now, 14 years later, the mined proportion of this whole provide sits at 93%, so how a lot BTC is left to mine?
93% Of Bitcoin Supply Already Mined
The whole mined Bitcoin crossed 19 million again in 2022 and the determine has regularly risen since then. Then in December 2023, the full proportion of the total BTC supply that has been mined crossed the 93% threshold, and Binance, the biggest crypto trade on the earth, took to Twitter to share this milestone.
According to data from Blockchain.com, a complete of 19,560,877.158 BTC has been mined as of December 5. This signifies that between April 2022 and December 2023, lower than 600 BTC have been introduced into circulation, displaying the decreased provide fee of Bitcoin.
To put this in perspective, between January 2009 when Bitcoin was launched and January 2010, over 2 million cash have been mined, regardless of the asset being much less standard than it’s now. The subsequent few years may also comply with this sample, till every halving cuts block rewards in half.
With the subsequent halving occasion scheduled for 2024, the BTC block rewards are about to be minimize in half as soon as once more. This will see the quantity of recent BTC supply scale back drastically and this shortage is anticipated to drive up the worth of the coin.
BTC stays above $43,000 | Source: 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. However, this 7% of the availability left will take a significantly longer time to mine than the 93% of the already mined provide.
According to the halving schedules, which is each 4 years, it should take one other 117 years for the 1.44 million BTC to be mined. The final block is anticipated to be mined someday within the 12 months 2140, at which level, there will likely be no extra BTC left to mine.
This signifies that regardless of it taking solely 14 years to mine 19.6 million BTC, it should take virtually 10 occasions that period of time to mine the remaining 7% of the availability. The final Bitcoin halving event can also be anticipated to happen in the identical 12 months.
When the entire BTC has been mined, it’s anticipated that miners will push for larger transaction charges as compensation for his or her actions since they may now not obtain rewards for fixing a block. However, the worth of BTC is anticipated to rise with every halving, protecting miners incentivized for years to return.
Featured picture from SemiDot Infotech, chart from Tradingview.com
