✔️ Information reviewed and updated in May 2024 by Eduardo López
The race towards full bitcoin availability is reaching its final phase, with an impressive 93,08% of the flagship digital currency already in circulation. With a total supply limited to 21 million bitcoins, each passing day means less BTC to be mined, and the remainder now represents less than 7% of that total.
Since block height 817.532, a significant amount has been mined, approximately 19.546.861,78 BTC, leaving just over 22.000 blocks before the next halving. This rapid pace of block production suggests that the historic event could occur in late February or early March 2024. However, calculations based on the constant average of ten-minute blocks point to April 20, 2024 as the earliest date. likely.
What Does 93% Mined Mean for the Bitcoin Ecosystem?
With 93% of bitcoins already in circulation, the question arises: how will this affect the cryptocurrency ecosystem and the price of bitcoin? As supply approaches its limit, some analysts suggest that inherent scarcity could drive demand and, therefore, the value of the cryptocurrency. This perspective is supported by the economic theory of supply and demand, which suggests that as resources become scarcer, their value tends to increase.
Next Halving and Future Perspectives
With the upcoming halving on the horizon and the countdown underway, cryptocurrency enthusiasts are eager to see how the market dynamics will play out. Although the predictions suggest potential dates for the event, the volatile nature of the cryptocurrency market means that any prediction has a certain degree of uncertainty.
Meanwhile, the price of bitcoin as of November 20, 2023 is around USD 37.000. This value, in the context of the high percentage of bitcoins already mined, raises questions about how limited supply could influence future valuation.
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