Saturday, March 25, 2023
Home Latest News Bitcoin News 90% of Bitcoin's Supply Cap Has Been Issued, Miners Have 119 Years...

90% of Bitcoin’s Supply Cap Has Been Issued, Miners Have 119 Years Left to Mine BTC

On December 12, crypto advocates celebrated the fact that 90% of the 21 million bitcoins that will ever exist have been mined into circulation. Currently, BTC inflation rate per annum is around 1.88%, which is lower than the central banks’ traditional 2% target reference. Furthermore, in 875 days, the network’s inflation rate is expected to drop to 1.1% after 19.98 million bitcoins have been mined.

Programmatic Scarcity

One benefit people enjoy about the Bitcoin network is that it is mathematical and predictable, in comparison to monetary systems issued by central banks worldwide, which are based on the whims of policymakers and are completely unpredictable. At the time of writing, 18,899,800 BTC has been mined into circulation and that equates to roughly 90% of the 21 million BTC that will ever exist. Digital currency fans acknowledged this milestone on Sunday, December 12, the same day as the 11th anniversary of Satoshi Nakamoto’s official departure.

Glassnode chart shared on Reddit by the r/bitcoin subscriber u/Bitcoin_is_plan_A on Sunday, December 12, 2021.

The 90% statistic can be seen on data sites like, and Glassnode’s percentage of the bitcoin supply currently mined. The 90% of bitcoins mined into existence discussion on Reddit also led to people asking how many bitcoins are lost and stuck in unrecoverable wallets. While News recently shared a Coin Metrics 2019 report on the state of lost bitcoins, which said at least 1.5 million BTC was assumed to be lost, some Redditors estimate the number to be a whole lot more.

“Estimates of 3-5 million [bitcoin] are out there,” one Redditor explained on Sunday. “You can see onchain metrics showing how much bitcoin hasn’t moved [in the] last decade but that would be the highest possible and there are some that just haven’t moved even though they possess the keys. I believe it’s around 3 [million], but we will very likely never know and it will continue to slightly go up. We also have a delay factor in the data because people within 10 years may have lost as well. It’s just assumed [for the] first couple of years [the] biggest losses occurred so we key in on that data.”

Bitcoin Inflation Rate per Annum Estimated to Be Around 0.4% in 2030

While we don’t have a hard number of how many bitcoins are officially unrecoverable or lost, it’s far different than the predictability of BTC issuance. Satoshi believed and many crypto advocates believe that lost coins simply add to the crypto asset’s scarcity. “Lost coins only make everyone else’s coins worth slightly more,” Bitcoin’s inventor said. “Think of it as a donation to everyone.” With 90% of the coins in existence circulating, and the current rate of 900 BTC per day, and 210,000 blocks every halving, the next reward halving is expected to happen on May 6, 2024.

Right now, the block reward is 6.25 bitcoins per block and the rewards will decrease to 3.125 bitcoins per block post-halving. With the current Bitcoin inflation rate fluctuating between 1.75% to 1.88%, we can estimate that after the halving Bitcoin’s inflation rate will be around 1.1%. The Bitcoin protocol halves continuously every 210,000 blocks until it reaches 0, which is estimated to be around the year 2140. By then (the year 2140), it is expected that miners will continue securing the network and processing transactions based on network transfer fees.

There’s a total of two more significantly sized bitcoin block reward halvings expected up until around 2030, and the halvings that follow after that year will be fractions of BTC. By 2028, Bitcoin’s inflation rate per annum is expected to be around 0.5% and by 2030 it will be around 0.4% with 20,585,442 million bitcoins in circulation. By 2030 estimates indicate that 98.02% of the 21 million bitcoins that will ever exist will be mined.

With Bitcoin’s hashrate climbing to all-time highs, the time frames of exactly when these changes will occur are fairly good approximations, but not set in stone. Currently, network participants (miners) dedicating hashrate to the BTC network have accelerated the time frame between halvings, and the daily issuance rate has been faster than previously surmised estimations.



About Skyhigh.Vip  

Skyhigh.Vip is a global institutional investor with a vast interest in Arts / Construction / Education / Business Services / E-Sports and various other growth industries.  

Several of its popular portfolios include GO Chambers which is the world’s largest business chamber listing provider with over 30,000 active chambers as its members.  

Flexgigzz is the Asia leading marketplace for freelancers service and together with SOHO Learning Hub which is an online platform for short courses and both of them aims to be the number one provider in Asia. For growth industries such as E-Sport Authority which is dedicated to providing independent media coverage to all E-Sport News related from around the world and for the art world, there is Atelier Auction which is an investable art auctioneer and being in the art scene for decades.

- Advertisment -

Most Popular

DTI: There Is No Exact Rules Of Crypto

DTI or The Philippine Department of Trade and Industry waved off a Binance ban proposal, Due to the lack of regulatory stance on cryptocurrencies from...

ATM Installations Of Crypto Will Dominated By U.S.

ATM Installations Of Crypto Will Dominates By U.S. U.S. dominates crypto due to China our from the competition The US picked up the slack to become...

Indian Taxes Increase, Companies Decrease Amount Of Employee

Indian taxes increase! India's new cryptocurrency tax has dealt a heavy blow to the crypto exchanges in the country, A moment ago, an announcement related to...

Riot Blockchain Moves Their Miner To Texas

Riot Blockchain the Crypto mining firm start relocating their rigs Moving from its New York data facility, With the majority intended to end up in central...

Bitmex Banned Russians From Their Platforms

BitMEX is major cryptocurrency exchange It aims to increase compliance with the European sanctions against Russia By preparing to enforce major restrictions for its Russian users. Then...

ECB Officials Will Consider Newest Crypto Law

ECB officials will get ready for crypto growth As crypto grown so fast, Many countries started to prepare anything related to the digital assets Regulators from 19...

Rumors KuCoin Bankrupt, CEO Gives A Statement

KuCoin is a crypto exchange that used by many users these few times As we know that the line's condition these days shows not really...

U.S. Lawmakers: There Is Inequality In Crypto Industry

U.S. Lawmakers seeing a problem A problem in crypto industry development According to some U.S. lawmakers in the House Financial Services Committee, The lack of diversity in...

Grayscale Investments File Disapproved, CEO Disappointed

Grayscale Investments launched a legal challenge It against the Securities and Exchange Commission (SEC) Previously, they are denied to convert their application From Grayscale Bitcoin Trust (GBTC) Into...