On the 27th of September, ChartsBTC posted a tweet which showed that the Bitcoin network had passed 18.5 million BTC in circulation. In addition, the tweets revealed that there are 2.5 million BTC left to be mined. Referring to the outstanding BTC, ChartsBTC added that half of it would be mined in the next four years.
However, the last Bitcoin is not expected to be mined until 2140, due to the halving. Since Bitcoin’s creation in 2009, there have been three halving events. The halving event takes place once every four years, cutting miners’ reward by 50%. After the last event, which took place last May, the last Bitcoin may not be mined for another 120 years.
Before the last halving on the 11th of May, experts predicted that the event would be different from Bitcoin halvings in the past. In a live panel discussion, the experts concluded that Bitcoin had become an integral part of the global economy.
As highlighted during the discussion, a large number of people consider Bitcoin as a preferred investment channel over traditional methods.
Furthermore, the institutional demand for Bitcoin has surged over the years. According to a survey by crypto insurance company Evertas, institutional investors are willing to put more money in Bitcoin. This is evident in recent Bitcoin acquisitions by Microstrategy and Grayscale Investments.
Image Credits: Pixabay
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