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Tuesday, June 28, 2022

19Million Bitcoin Have Been Mined Till Date

It has been recorded as per sources that a total of 19 million bitcoin was mined to date which means that only 2 million BTC are left for the next 100 years. This Friday marked the range of 19th million for bitcoin, which amounted to be a landmark case with the leading cryptocurrency in the market. Based on the data, it can be understood that 19 million bitcoin are circulating in the market whereas just 2 million are only left to be minted till the year 2140. 

Bitcoin Is Left With Just 2Million Numbers To Be Mined By 2140

The last bitcoin of 19th million entered the market in block 730002. The earning of SBI Crypto was approximately 6.32 BTC, which amounts to nearly $293,000 for block rewards and fees for the transaction. Thus, this was a significant occasion and the whole bitcoin community celebrated it as a momentous event. 

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Kjetil Hove, the CEO of Kryptovault, stated that less than 10% of BTC is left with them and this number is not small as the best mining days are yet to come. The founder of Bitcoin Bloem, Bert de Groot, stated that this event made them realize the importance of work to Satoshi Nakamoto and he joked that if possible he would have sent flowers to him. 

Vlad Costea also mentioned the data and stated that after 13 years of BTC being in the market, it has come a long way and the last coin will be mined after 118 years approximately. In recent times, the issuance rate is 6.25 per block and in the next half the rate will decrease to half and that will be not until 2024. 

However, the community of BTC thinks that there will be a scarcity soon. In the words of Alex Gladstein, the scarcity will be more evident as people are adopting BTC at a speedy rate.

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