Bitcoin Approaches Key Circulation Milestone
The total supply of Bitcoin in circulation has reached 19,997,001.16, just 3,000 short of the 20 million mark. At the current mining speed, this milestone is expected to be achieved within a week.
Total Supply Cap and Mining Speed
Bitcoin's protocol caps the total supply at 21 million, ensuring its scarcity. With each halving event, the inflation rate has dropped below 1%. Currently, about 450 Bitcoins are produced daily, and the remaining 1 million are expected to take over a century to mine.
The Long Road Ahead for Mining
The final million Bitcoins will take over a century to mine, with the last coin expected to be mined in 2105, and the overall mining process projected to end around 2140.