19 Million Bitcoin Have Been Mined Into Circulation – Records suggest that 19 million bitcoins were mined and put into circulation on April 1, 2022. With the maximum supply established at 21 million, miners are left with only two million bitcoins to find.
On Friday, April 1, 2022, the Bitcoin (BTC) network passed a significant milestone when records revealed that 19 million bitcoins had been mined. At block height 730,034, a watershed moment occurred, and there are now just two million blocks remaining to mine. At 7:05 p.m., the total amount of bitcoin in circulation was 19,000,004.68 BTC (ET).
Satoshi Nakamoto set the maximum supply of Bitcoin at 21 million when he launched the network, and research suggests that the figure is a hair less than 21 million. According to some estimates, there will only be 20,999,817.31 BTC.
There are only 1,999,781.23 BTC left to find, according to the bitcoin dashboard at clarkmoody.com, which was used to track the 19 million bitcoins mined on Friday.
When a miner discovers a block, the coin supply grows by 6.25 bitcoins per block ($289,656) discovered. Every ten minutes, a new block is discovered, and the next block reward halving is predicted to occur on or around May 3rd, 2024.
Miners will receive 3.125 bitcoins every block following the next halving, which will take place in 2028.
People can anticipate the time frame between difficulty adjustment modifications and the next halving since BTC supply is programmed, mathematical, and ultimately predictable. The Bitcoin network’s annual inflation rate is 1.74 percent at the time of writing, and the annual inflation metric will continue to fall after each halving.
While statistics show that 19 million bitcoins have been mined, no one knows how many are currently in circulation. This is the case because there are an unknown amount of unobtainable or lost coins that will never be spent.
Satoshi Nakamoto, on the other hand, explained the problem of lost coins when he stated that unobtainable bitcoins will make the crypto asset increasingly scarce and hence more valuable. “Lost coins merely increase the value of everyone else’s coins by a small amount.”