19 millionth Bitcoin (BTC)It was released yesterday, Friday. The number of BTC currently in circulation has theoretically reached 19 million, while the remaining 2 million BTC is calculated to be mined by 2140.
In block 730002 mined by SBI Crypto, the 19 millionth Bitcoin was in circulation. SBI Cryptomined 6.32 BTC, which is about $293,000 for the transaction fees and block rewards issue. The Bitcoin community quickly celebrated this important milestone.
The 19,000,000th bitcoin was just mined.
Only 2 million more bitcoins to go.
— Pomp 🌪 (@APompliano) April 1, 2022
Kjetil Hove Pettersen from Kryptovault commented, “We only have two million Bitcoins left for mining – less than 10% of the total.” He continued:
“This may seem like a small number at first glance, but I believe the best mining days are still ahead of us.”
Bert de Groot shared the comment that the 19 millionth Bitcoin issued today marks a historical moment. If we had the opportunity, to express our gratitude Satoshi Nakamoto“We would like to send a flower to him,” he said.
Vlad Costea, founder of Bitcoin Takeover: “Only 2 million BTC left to be mined in the next 118 years!” In the 13 years since Bitcoin’s inception, miners have uncovered 19 million Bitcoins; The last Bitcoin is expected to be issued in 2140.
The 18,500,000 millionth Bitcoin was mined in September 2020 as the current extraction rate is 6.25 Bitcoins per block. The next halving, in which the extraction rate is halved, is scheduled for 2024.
For the Bitcoin community, the 19 millionth Bitcoin mining is a significant level highlighting Bitcoin’s scarcity. According to Alex Gladstein, chief strategy officer for the Human Rights Foundation, the scarcity is all the more apparent given how early the world is on the path to adopting Bitcoin:
“So far, El Salvador remains the only country-state that legally accepts Bitcoin and currently issues Bitcoin-backed “Volcano Bonds” to raise money. However, some other countries, including Brazil, are showing promising signs for Bitcoin adoption in 2021.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.