FX.co ★ Bitcoin reached a new milestone with the production of 90% of the total mining

According to the blockchain tracker Blockchain.com, 90% of all bitcoins have been mined on Monday morning. This means that 18.89 million bitcoins – a maximum of 21 million, are now on the open market.

It has taken almost 12 years to reach this figure since the first Bitcoin was mined on January 9, 2009. However, it is assumed that such a volume of production will not be repeated until 2140 based on estimates of network activity and graphs of bitcoin reduction together.

Prices reflect the growing supply as demand for new Bitcoins increases. The asset was sold for less than $0.10 when 10% of the supply was mined in early 2010 and hovered above $7.50 when 50% of the supply was mined in December 2012. Bitcoin is currently trading around $49,000. It is down by 28% from its peak of $69,000 earlier this year.

Currently, miners receive 6.25 bitcoins for each block mined, which will fall to 3,125 bitcoins in 2024, after the next halving.

According to the forecast, not all 21 million bitcoins will be available on the open market. Based on the analysis of address activity, Cryptanalytic company Chainalysis estimates that 3.7 million bitcoins have been lost, starting with the loss of personal keys and ending even with death. Another 1 million bitcoins are held by bitcoin creator Satoshi Nakamoto. This is an untouched amount since this volume was mined in the early days of the network.