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Only 2.5 million bitcoins are left to be mined!

Only 2.5 million bitcoins are left to be mined!

Quick Take

1 minute read

  • There are only 21 million bitcoins in existence and less than 2.5 million of this sum is yet to be mined.
  • ChartBTC recently wrote in a tweet that the bitcoin network has already passed the 18.5 million bitcoin mark in circulation which would mean that there is less than 2.5 million of the leading cryptocurrency left to be generated. 

There are only 21 million bitcoins in existence and less than 2.5 million of this sum is yet to be mined.

ChartBTC recently wrote in a tweet that the bitcoin network has already passed the 18.5 million bitcoin mark in circulation which would mean that there is less than 2.5 million of the leading cryptocurrency left to be generated. This is around 11.9% of the overall circulation of bitcoin.

The account pointed out that half of this remaining number will be mined within the next four years and ever since the Genesis block in 2009, the network for bitcoin has undergone three halving events. The third of these events took place in May this year to an underwhelming outcome. Do not worry though as the last of bitcoin is not expected to be mined until 2140, so not in our lifetime.

Even though there is a “little“ amount of bitcoin left to be explored, the industry of cryptocurrency is expanding all the time. In 2020 alone, institutional demand for the leading cryptocurrency has been increasing on a steady basis and new data indicates that institutional investors are looking to increase their allocations into bitcoin no matter it’s short-term price slumps.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

 

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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