Do You Know More Than 90% of Bitcoin Has Been Mined? MEXC Global Research

The 19 millionth Bitcoin has been mined on April 1, 2022. This is a significant milestone since the maximum supply of Bitcoin will never be more than 21 million. The rest 10% of Bitcoin will be mined for another 100 years.

One big thing that convince people believe that Bitcoin will be more valuable over time is because of one of its most pivotal events - halving, when the number of new-mined Bitcoin supply cuts in half every four years. Each halving process lowers the rate of inflation. With that being said, there will be upward pressure on Bitcoin price, assuming everything else holds constant.

In 2022, Bitcoin miners are rewarded 6.25 Bitcoins when they successfully mine a block. The next halving cycle will happen in 2024, the block reward will be 3.125, which is 50% lower than the current rewards. Eventually, the block reward of Bitcoin will diminish and approach zero. This means there might be less miners are willing to mine in the future, unless the BTC price increases to the level that will cover the mining expenses.

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