How long will it take to mine all the bitcoins and what happens after
– 1 min read
Mining all the bitcoins will take a long time and is estimated to take over 119 years altogether. There are around 21 million bitcoins still to be mined. The very last bitcoin will probably be mined around the year 2140.
Bitcoin supply
It was in 2007-2009 that the mysterious person who was also known as Satoshi Nakamoto (who was also meant to be the creator of bitcoin) made something unlike cash or fiat and was created in order to increase in value over time and be a serious store of value.
Bitcoin does not rely on banks, or governments or operate it, and is seen as a deflationary asset class.
Its of the 18.7M that have entered the market in 2021 80% of the total supply of bitcoin. This accounts for 89% of the total supply of the coin itself.
The halving
Satoshi Nakamoto created a way which is called the halving system which happens every 4 years which automatically reduces the mining rewards for miners each of those 4 years. In 2032 the last mining will occur as 99% will have been mined.
Looking to trade crypto? Check out CRYPTO.COM
Check out CRYPTO.COM. Get crypto trading with CRYPTO.COM. It is also an active subscription management app supporting Debit Cards and Crypto to help people save and earn money on their subscriptions.
Written by
Vlad has a BSc, MSc and has previous experience working in finance at Lazard, Bernstein and is a Techstars Alumni and has exited SAAS businesses.
His linkedin: https://uk.linkedin.com/in/vladkozul
