20-millionth bitcoin not mined yet, expected in a year
20-millionth bitcoin expected in a year
Confusion surrounding the total number of mined Bitcoins surfaced this week, following reports that the 20-millionth Bitcoin had been mined.
Takeaways
- Despite some reports, the 20 millionth Bitcoin has not yet been mined — the true supply is ~19.84M.
- Bitbo's miscount was due to using proprietary calculations rather than data from a full Bitcoin node.
- The 20 million BTC milestone is expected to be reached in about a year, based on current issuance.
- Millions of BTC are likely lost or inactive, meaning the true circulating supply is much lower than recorded.
According to Bitbo, a popular blockchain data tracker, more than 20,000,543 BTC are in existence. However, prominent Bitcoin advocate and software engineer Jameson Lopp refuted the claim, stating that Bitbo’s figure is based on a proprietary calculation rather than on data from a full Bitcoin node.
Loading...
As of now, the true total supply of Bitcoin stands at approximately 19,843,807 BTC, with 1,155,974 coins yet to be mined. Given the average issuance of about 900 new BTC per day, the network is still roughly a year away from hitting the 20 million milestone — a major psychological and economic threshold in the evolution of the cryptocurrency.
The road to 21 million: inflation and lost supply
Bitcoin’s supply cap is famously fixed at 21 million coins. Approximately 99% of that supply is expected to be mined within the next decade. After that, remaining inflation will taper off through successive “halving” events — occurring roughly every four years — until the final Bitcoin is mined more than a century from now.
Bitcoin price. Source: CoinGecko.
Yet the actual circulating supply may be far lower due to millions of lost or abandoned coins. Wallets that have been inactive for decades, including those believed to belong to Satoshi Nakamoto — the pseudonymous creator of Bitcoin who reportedly mined around 1 million BTC — remain untouched, with many considered permanently inaccessible.
The eventual mining of the 20-millionth Bitcoin will mark a landmark moment for the cryptocurrency, reinforcing its scarcity narrative and increasing the focus on long-term holder behavior. However, observers are cautioned to rely on full-node data for accuracy, particularly as more supply-related milestones approach.
Read also: Institutional BTC purchases might be boost for bull market
