According to data from Blockchain.com, as of this morning, all Bitcoin (BTC) 90% of its supply has been mined (excavated). According to the data, 18.89 million of the total supply of 21 million is currently circulating in the market.
It has been nearly 12 years since the first BTC was issued on January 9, 2009. However, it seems that the rate of BTC issuance will not continue at the same pace. According to some projections, it may take a very long time to excavate the entire supply.
The period in which 90% is reached, BTCCoinciding with the periods when the demand for . The asset was trading below $0.10 when subtracting 10% of supply in early 2010 and hovered above $7.50 in December 2012 when subtracting 50% of supply. It is currently trading above $49,000 and is down 28% from its high.
As a proof-of-work network, it is possible to mine BTC with a system based on network participants called “miners” who continuously process transactions and validate blocks in a process commonly referred to as “mining”.
Such participants provide computing resources and hardware to solve millions of complex calculations on the Bitcoin network every second, bitcoinThey take ‘i’ as ‘reward’. Miners currently receive 6.25 Bitcoins for each block they mine, and this will drop to 3,125 bitcoins after the next halving in 2024.
When the total supply of 21 million will be fully in the market is a mystery and according to many analysts, it is not possible. Analytics firm Chainalysis estimates, based on analyzing address activity, that 3.7 million Bitcoins are “lost” from causes ranging from losing one’s private keys to death. Another 1 million bitcoins are held by Bitcoin creator Satoshi Nakamoto. This represents an amount untouched since the aliases mined that amount in the network’s early days.
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.