Bitcoin marked a major milestone earlier on October 19, 2019, with the king coin officially crossing the $18 million mark in terms of circulating supply, leaving around only $3 million left to be mined. With the next halving fast approaching, there will be a further cut in the block reward. Due to this, it would at least take more than a hundred years for the last Bitcoin to be mined.
Crypto Bull said on Twitter,
“Bitcoin block # 600,000 was just mined and there are now 18,000,000 bitcoins in circulation. It will take approx 2.5 years to reach 19,000,000 and another 4 years to reach 20,000,000. After that it’s going to take more than 100 years to reach the 21,000,000 limit.”
According to Bitcoin Block Half, at press time, the total Bitcoins in circulation was 18,000,488 out of 21 million hard cap, totaling to 85.72 percent of coins mined so far. Additionally, the next halving season is slated to occur around May 14, 2020, a phenomenon that occurs every 210,000 blocks are mined. This would result in the block mining reward being further cut from 12.5 coins/ block to 6.5 coins/ block.
Michel Kansou, a Bitcoin and Blockchain enthusiast said on Twitter,
‘Today 18 million Bitcoin has been mined and there are only #3MillionLeft to mine in total for 7 Billion people around the world. Do the math“
Marc Friedrich said on Twitter,
“#Bitcoin! 18 million bitcoins are mined with 600.000 blocks in more than 10 years solid work. Only 3 millions to go. Censor free, fair, transparent, decentral, independent, limited, democratic, the future and the first digital store of value – the younger brother of #gold“