Only 10% of the Bitcoin supply left to mine

Fresh data shows 90% of the total Bitcoin supply is mined, but the rest will take a little longer to produce. Read the full article by: Erhan Kahraman

Key Points:

• One of the most popular things that people know about Bitcoin is that it has a scarce supply of 21 million tokens that will ever be released into circulation. This morning it became official that we are closing in on that number as 90% of the maximum supply has now been mined.

• This comes just a year and a half since the last halving which generally happens every couple of years. After each halving the amount of rewards for mining a block on the blockchain is cut in half as the supply starts to dwindle.

• The total current number in circulation is 18.9 million tokens leaving just 2 million left to be mined. This may seem like a small amount but it will still take another 119 years for the entire mining process to be completed. Doing this will ensure that less Bitcoin will be produced as the circulating supply increases.

• Following this news the price of BTC fell below $50,000 as the markets continue their downtrend in light of a lot of negative sentiment. The next halving is expected to be in 2024 and the rate to mine a new block will be 3.125 BTC per block. This on top of the fact that there are millions of tokens lost or locked in inaccessible wallets makes it even more scarce.