ChartBTC, through a tweet, pointed out that Bitcoin network has already crossed a milestone of 18.50 million BTC in circulation. This implies, only 2.50 million Bitcoin is still left to be mined, representing roughly 11.9% of the total quantity of Bitcoin that will be ever generated.
ChartBTC has further stated that 50% of the remaining 2.50 million BTC will be mined in the upcoming four years. From the time, the genesis block was generated in 2009, the Bitcoin network has gone through three halvings, with the latest one happening in May 2020.
As the creation and disbursement of new coins halves once in four years, the last Bitcoin will be mined only in 2140. Fresh Bitcoin cannot be mined afterwards.
The Bitcoin network has passed 18,500,000 BTC in circulation. Less than 2,500,000 left and half of those will be mined in the next 4 years. #bitcoin pic.twitter.com/0yPo57XIaR
— ChartsBTC (@ChartsBtc) September 27, 2020
A team of eight Crypto Valley professionals felt that the recent halving is unique from the past halving events because many people are looking at the option of having their entire life savings in BTC.
Since the beginning of this year, institutional demand for Bitcoin has been increasing at a consistent rate. Latest survey info indicates that institutional investors plan to boost their Bitcoin holdings irrespective of near-term declines in price. By virtue of its investment in MicroStrategy, the world’s biggest sovereign wealth fund now holds 577.60 Bitcoins indirectly.