According to the latest analytical report of Blockchain.com, as of this Monday, 90% of Bitcoin’s total current supply of 21 million coins has already been mined. More specifically, there are now over 18.899 million BTC circulating the world today.
It is also worth noting that the aforementioned 90% of BTC took more than 12 years to mine. Luckily, experts argue that the remaining 10% will take even longer than that, thus, eliminating the fear of supply exhaustion. The report notes that it will take arguably 119 years before miners could deplete the remaining supply because of the Bitcoin halving protocol, where BTC itself is cut in half every four years in an effort to increase its value.
BTC currently has a hard cap of 21 million coins set by the enigmatic father of Bitcoin, Satoshi Nakamoto. According to crypto analysts, this particular limitation written at the very core of BTC’s source code itself ensures that the currency retains its value proposition and effectively be a viable investment tool.
While the leading crypto started the week high above the $50,000 mark, it is now a tad below $47,000 apiece. This means that BTC has now gone down about 30%, following its all-time high record of $68,789 last November 10th. That being said, it is not only BTC having a rough stretch recently – almost every crypto is in the red as of press time.