18,500,000 Bitcoins in circulation
- 28th September 2020
- Posted by: Hakeem
- Category: Crypto
There are now over 18,500,000 BTCs in circulation. A tweet, recently released by ChartBTC disclosed that the amount of BTC left is about 18.5 million.
This means that there is less than 2.5 million BTCs left, or about 11.9% of the total Bitcoin to be generated.
As the issuance of new BTCs is halved every 4 years, the last BTC is not expected to be mined until 2140. No new Bitcoin can be mined after that year.
Recall that about three months ago, Bigwig FX wrote on how Bitcoin was becoming difficult, as about 60% of BTCs in circulation (18.5 million BTCs) were held by business entities or individuals that had never sold more than 25% of BTCs that they had been holding as long-term investments.
What you need to know: Only 21 million BTCs are ever going to be produced in total, and presently, there are about 18.5 million BTCs in circulation. This shows a differential of about 2.5 million BTCs that are left to be produced.
Chainalysis, a crypto analytic firm, wrote a report explaining how most BTCs are held by those who treat it as digital gold, stating;
“This digital gold is supported by an active trading market for those who prefer to buy and sell frequently. The 3.5 million Bitcoins used for trading supplies the market and in interaction with the level of demand, determines the price. With more people looking to trade Bitcoin, which is only becoming scarcer following the recent halving.”