Over 90% of Bitcoin in Circulation: What’s the Future of Miners?

Over 90% of Bitcoin in Circulation: What’s the Future of Miners?

More than 90% of all bitcoins are currently in circulation after 19 million BTC mined on Friday

Currently over 90% of Bitcoin

It is in circulation after the 19 millionth bitcoin was mined on Friday.

What happened
As of April 1, 2022, there were reportedly just over 19 million bitcoins in circulation, out of a total supply of 21 million.

A block is mined on the Bitcoin network approximately every ten minutes, increasing the circulating supply by 6.25 Bitcoins.

In order to slow down Bitcoin production, halving occurs roughly every four years. The Bitcoin halving largely depends on how fast the coin is mined. After the 210,000th block is mined after the last half, the reward will be halved again. It is estimated that this will happen sometime between February 2024 and June 2024.

By 2026, we expect to see a circulating supply of 20 million bitcoins. The final total supply of 21 million bitcoins is expected to be reached in 2140.

When all 21 million bitcoins have been mined, miners will have to continue contributing to the bitcoin network to keep it running.

Once the full supply is mined, miners will only receive a portion of the transaction fees that people pay when sending transactions within the network.

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