Today, the 1st of August 2019, the flagship coin reached a new milestone. According to the data provided by Blockchain, 17,850,000 Bitcoins have been mined as at today, making it 85% of Bitcoin’s total supply.
Bitcoin has a fixed supply of 21 million units, this means there can only be 21,000,000 of the flagship coin. The remaining 3,150,000 Bitcoins awaiting to be mined will not be available till the next 120 years.
The remaining 3.15 million left will be unlocked in the year 2140, this is, due to the coins awarded to miners per block decreasing over time. This means “Scarcity is about to kick in”, as there will be no more coins left to be mined.
Currently, only 17,850,000 people can own a single Bitcoin, and there are more than a billion technology inclined individuals right now. However, just above 10,000,000 Bitcoins are in circulation right now, because some users lose access to private keys. Analysts have predicted a major Bitcoin price increase in 2020.