Bitcoin crashes through ‘point of no return’ milestone


The total supply of Bitcoins in circulation is capped at 21 million, and we have now reached 18.8999 million Bitcoins currently circulating on the network as of Monday morning, according to That’s 90% of all Bitcoin.

The very first Bitcoins were mined on January 9, 2009. This means that it took Bitcoin miners twelve years to reach the 90% mark.

According to Counter, although there is only 10% left, “the remaining supply [of Bitcoin] is not expected to be mined until February 2140, based on estimates of network activity and Bitcoin’s halving schedules.

Yahoo finance reports that Bitcoin was traded for less than $ 0.10 when 10% of the supply was mined in early 2010, and for $ 7.50 when 50% of the supply was mined in December 2012.

Total Bitcoins in circulation over the past 12 months. Image via Blockchain Explorer

At the time of writing, Bitcoin is trading at $ 46,923.40 (AUD 65,782.1), having fallen significantly from its high of $ 69,000 (AUD 96,731.44) earlier this year.

As the world’s first and most famous cryptocurrency, Bitcoin has led the blockchain technology revolution from the start. Bitcoin led the way when it entered popular consciousness in 2017, and in the years that followed, it has consequently offered all other cryptocurrencies the opportunity to succeed in its wake.

Bitcoin relies on miners who, Counter explains, “Continuously process transactions and validate blocks as part of a process commonly referred to as mining. These participants contribute their computing resources and hardware to solve millions of complex calculations on the Bitcoin network every second, receiving Bitcoin as a reward.

Image Credit: Dado Ruvic, Reuters

According to Coindesk, “Miners currently receive 6.25 Bitcoin for every block they mine, which would drop to 3.125 bitcoin after the next halving in 2024.”

It should also be noted that not all Bitcoin will be available on the open market, even after the remaining supply has been fully mined.

According to Decrypt, 3.7 million Bitcoin are probably gone forever, as Bitcoin is sometimes lost, burned or simply forgotten by its owners.

Decrypt Also reports that Bitcoin creator Satoshi Nakamoto “may have mined around 1.1 million BTC in the first few months of its existence,” writing that “since then it seems Satoshi hasn’t touched its stash , indicating that he or she (they?) cannot or will not move these coins into the circulating supply.

Bitcoin is down 6.36% today and down 25% over the past month. Bullish investors always point out that there is usually always a slump after an all-time high, while bearish investors take a step back, after individuals like big wig investor Louis Navellier recently warned that things like reducing The Federal Reserve could see Bitcoin drop to $ 10,000 per Bitcoin, a stinging 80% drop from its all-time high of nearly $ 70,000 last month.

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