Bitcoin's supply is programmed to decline over time through a process called halving, which halves mining rewards every four years.
- With the 20 millionth Bitcoin issued at block height 940,000, that leaves roughly one million coins.
- Supported by miners such as Marathon Digital, Riot Platforms, and Core Scientific, Foundry USA leads mining pools.
- On Monday, Strategy purchased $1.28 billion worth of Bitcoin, bringing its total holdings to roughly $56 billion.
More than 95% of Bitcoin’s total supply has now been mined, marking a new milestone for the cryptocurrency as it trades near the $69,000 mark.
The Bitcoin network reached block height 940,000, and the 20 millionth Bitcoin has already been mined, according to data from CloverPool. Since the total supply of Bitcoin is limited to 21 million coins, about one million BTC will still be issued over the next few decades.
What Is Bitcoin Halving?
Bitcoin's supply is programmed to decline over time through a process called halving, which halves mining rewards every four years.
At the time of writing, Bitcoin (BTC) was trading at $68,768.55, up 2.4% over the past day. On Stocktwits, retail sentiment around BTC remained in ‘bullish’ territory, with ‘low’ chatter levels over the past day.
Foundry USA currently has the highest hashrate, of 326,683 PH/s. The mining pool controls the largest share of Bitcoin’s network computing power, giving it a higher probability of discovering new blocks and earning mining rewards. Many large U.S.-based Bitcoin miners route their computing power through Foundry’s mining pool, including Marathon Digital Holdings (MARA), Riot Platforms (RIOT), and Core Scientific (CORZ).
Bitcoin’s Biggest Supporter Saylor Highlights Its 21M Supply
Michael Saylor, the Executive Chairman of Strategy (MSTR), has reiterated that there will only ever be 21 million Bitcoin – the main reason he thinks the asset will become very valuable over time.
Saylor has stated that "there isn’t enough Bitcoin for everyone.” He has advised investors to visualize "everything divided by 21 million," noting how scarce the supply is relative to the world's wealth.
On Monday, Saylor announced that Strategy now holds 738,731 BTC, which it acquired for roughly $56.04 billion, with an average purchase price of $75,862 per Bitcoin, including fees and expenses.
The firm also revealed that it recently increased its total holdings to the current level by purchasing 17,994 Bitcoin for roughly $1.28 billion at an average price of $70,946.
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