Bitcoin With the issuance of its 20 millionth token, the company is about to reach an important symbolic milestone.
According to Clark Moody Dashboard, 19,996,979 BTC have been mined, leaving only about 3,000 BTC left before reaching the 20 millionth Bitcoin, which will take about 7 days at the current issuance rate. Once this threshold is crossed, more than 95% of the fixed supply of 21 million coins will enter circulation, leaving only 1 million coins to be mined over the next century.
Satoshi Nakamoto hardcoded the 21 million cap into the Bitcoin protocol to create a form of money that was absolutely scarce, in contrast to fiat currencies that central banks could expand. Although Satoshi Nakamoto never fully explained the exact number, the fixed limit established the credibility of a predictable supply. For Bitcoin maximalists, the cap is fundamental. Any suggestion to change it is seen as undermining Bitcoin’s core value proposition as “hard currency.”
Bitcoin’s scarcity is often compared to gold or oil. But while commodity supply can respond to rising prices through increased production or new discoveries, Bitcoin issuance cannot accelerate. Its supply curve is transparent and immutable.
The halving has caused issuance to slow, with miner rewards reduced approximately every four years, pushing inflation down to below 1%, with approximately 450 Bitcoins mined per day. At this rate, 99% of the supply will be mined by January 2035. The final complete Bitcoin is expected to be released around 2105, with partial issuance continuing until around 2140.
After this, miners will rely entirely on transaction fees. For supporters, the 20 million milestone reinforces Bitcoin’s scarcity as new supply dwindles. For miners, it underscores the long-term shift toward a fee-driven revenue model that will ultimately determine the security and economics of the network.
