Decoding what ’19 million BTC in circulation’ means for investors
Bitcoin is known for its deflationary nature. Its supply has a hard limit of 21 million coins. Therefore, the creation of a new Bitcoin is unlikely after the year 2140.
Notably, since its inception in 2009, the value of Bitcoin has grown a million-fold over a decade. The limited supply makes it a scarce commodity and can help increase its price in the future.
On 1 April 2022, the Bitcoin network reached a milestone after records showed that 19 million Bitcoin got minted. However, with nineteen million Bitcoin in circulation, two million Bitcoin remain out of the circulation circle.
Source:Blockchain.com
This milestone occurred at block height 730002, mined by SBI Crypto, which likewise earned 6.32 BTC, roughly $293,000 as block rewards. At press time, the total amount of Bitcoin stood at 19,000,004.68.
Different crypto enthusiasts took to Twitter to celebrate this occasion. For instance, renowned podcaster Anthony Pompliano, in a 2 April tweet wrote,
<p lang=«en» dir=«ltr» xml:lang=«en»>The 19,000,000th bitcoin was just mined.Only 2 million more bitcoin to go.
— Pomp
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