How Many Bitcoins Are There in 2023?
We all know Bitcoin is the most popular cryptocurrency around, but just how many Bitcoins are there in the world today? The availability of any commodity helps to influence how valuable it is, by creating a ratio of supply to demand.
Read on to learn all about the number of Bitcoins in circulation, and the total Bitcoin supply investors can take advantage of in 2023.
How Many Bitcoins Are There in 2023?
There are 19,276,325 Bitcoins in circulation at the time (January 29, 2023). Around 900 new Bitcoins are mined per day, and there are approximately 1,723,674 Bitcoins left to be mined. The total amount of Bitcoin left to be mined changes around once every ten minutes. Right now, each new block mined adds 6.25 Bitcoins into circulation.
(Blockchain.com)
Exploring the Total Supply of Bitcoin
Bitcoin has a finite supply. This means when we hit the Bitcoin supply limit, the only way to get hold of this currency will be to trade with someone else.
The maximum amount of Bitcoins that can exist is 21 million.
According to experts, the number of total Bitcoins issued will likely never reach this cap. This is because there are rounding operators in the Bitcoin code base. Block rewards are often divided over time to impose a Bitcoin cap limit.
When we reach the last Bitcoin mined of the 21 million possible, no additional coins will be created. This means Bitcoin miners will only earn money from selling their coins and transaction fees.
(Blockchain.com)
There are 1,936,481 Bitcoins left to be mined.
The real-time tracker of the total number of Bitcoins in the world reveals there are 1,936,481 Bitcoins left to be mined. This means that over 90% of the total Bitcoins available in the world are already in circulation.
(Blockchain.com)
It takes around 10 minutes to mine a block of Bitcoin.
Each block comes with a Bitcoin mining limit, which determines the amount of Bitcoin released into circulation. With each block taking around ten minutes to mine, there are around 144 blocks mined each day.
At the current rate, following the Bitcoin limit and Bitcoin halving, around 900 BTC are entered into circulation every day.
(Scholar.SMU)
There are more Bitcoin miners in the USA than anywhere else.
Available stats say that there are around a million Bitcoin miners today. They come from all over the world, however, the US seems to be contributing the most. Estimates for the amount of Bitcoin in circulation coming from each country are partially based on electricity and energy prices worldwide.
(Statista)
Experts predict the last Bitcoin will be mined in 2140.
Although 19 out of 21 million Bitcoins have already been mined, there’s still a lot of time before we reach the Bitcoin mining end date. Every four years, the total Bitcoins mined in a day reduces. This is because the rewards, or the number of Bitcoins mined with each block, are halved.
In 2012, the block award was 25 Bitcoins. Today, the lower number of Bitcoins left to mine means we can only access 6.25 Bitcoins from each block.
(CNBC)
Around 20% of the total Bitcoins in circulation are lost.
Though it’s difficult to know for certain the total number of Bitcoins lost each day, experts believe that around 3.7 million coins are gone forever. This means about 20% of the total Bitcoins today are inaccessible and cannot be retrieved.
They are lost, burned, or simply forgotten, which reduces the number of Bitcoins in circulation. This also adds to their value.
(Decrypt)
Conclusion
There is a finite supply of Bitcoin available in the world. While there is less than 10% left of it to be mined, it will take more than a century for us to run out of new BTC entirely. The question is, what will happen to Bitcoin’s value when we run out of mineable blocks?
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