Bitcoiners celebrate as the network produces its 20 millionth coin
“A digital money system with transparent, predictable, and ultimately scarce supply… has rising appeal in today’s economy due to fiat currency tail risks,” said Grayscale.
The Bitcoin network has just reached 20 million mined coins, leaving just one million Bitcoin to be mined over the next century.
“The market is about to experience something new: A global asset with almost no new supply left,” Energy Co managing partner David Eng said in an X post on Sunday.
On average, about 450 new Bitcoins are mined each day at current rates. This rate halves roughly every four years as a result of the Bitcoin halving. With just 1 million Bitcoin supply left, the last Bitcoin is set to be mined around 2140.