Nearly 94 percent of the total supply of 21 million Bitcoins has been mined as we approach the end of 2024. Only around 1.1 million Bitcoins remain to be discovered. In this context, the most popular cryptocurrency is strengthening its position as a more valuable digital asset.
Bitcoin mining nears its final phase
Bitcoin’s limited supply plan is one of its key features that has enabled its long-term value growth. Satoshi Nakamoto, the creator of the cryptocurrency, programmed the Bitcoin protocol to set the maximum number of coins that could be mined at 21 million.
The last Bitcoin halving event in 2024 further slowed the pace of new Bitcoins by reducing block rewards to 3125 BTC. Currently, on average, only around 450 new Bitcoins can be mined per day.
It has been revealed that Samsung will not release the One UI 7 beta update for old devices such as the Galaxy S23 series.
In addition, an estimated 3-4 million Bitcoins are thought to have permanently disappeared, further reducing the supply in circulation. With the last Bitcoin expected to be mined in approximately 2140, the market capitalization will continue to increase over time.
“Bitcoin’s limited and predictable supply is an important part of its appeal as a sound monetary asset. As more of the total supply is mined and disappearing coins reduce availability, Bitcoin’s scarcity will ensure continued value growth for long-term investors.”
