Bitcoin network exceeds 18,500,000 BTC in circulation

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Alex Dovbnya

Bitcoin Supply Reaches Another Milestone, Surpassing 18.5 Million Coins

Contents

  • 18.5 million existing parts
  • Grayscale absorbing Bitcoin’s supply

Bitcoin’s total circulating supply has passed major milestone of 18.5 million coins, according to CoinMarketCap Data.

88% of all coins that will ever exist in circulation have already been mined.

18.5 million existing parts

The first Bitcoin block – known as the ‘genesis block’ – was mined by Satoshi Nakamoto, the pseudonymous creator of the world’s largest cryptocurrency, on January 3, 2009.

Its coinbase setting features the now famous Times headline about ex-British Chancellor Alistair Darling considering a second bailout for the banks. Another special feature of Block 0 is that the 50 BTC reward grant it received is not usable.

Bitcoin’s circulating supply broke the 1 million coin mark on June 24, 2009. At that time, BTC was virtually worthless since it wasn’t trading on a single exchange.

It took him over two years to cross the 10 million mark on September 27, 2012 before the very first quadrennial reward reduction that took place on November 28, 2012, reducing the overall grant from 50 BTC to 25 BTC.

Circulating feed
Image by blockchain.com

As reported by U.Today, the flagship cryptocurrency launched its fourth era on May 11 after its 630,000th block was mined. Miners now receive 6.25 BTC for each block they solve.

The last Bitcoin block is expected to be mined no earlier than 2140, which means none of today’s BTC holders will be alive when that happens unless Peter Thiel uses his anti-aging technology.

Grayscale absorbing Bitcoin’s supply

In the meantime, grayscale digital asset management, increased its Bitcoin position of 17,100 BTC over the past week.

He continues to get ahead of Bitcoin miners, aggressively gobbling up fresh new Bitcoin coins in circulation.



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