More Than 90% Of All Bitcoin Now In Circulation; So What’s Next For The Miners

Over 90% of all Bitcoin (CRYPTO: BTC) is now in circulation after the 19 millionth Bitcoin was mined on Friday.

What Happened: According to reports, there are just over 19 million Bitcoin circulating as of April 1st, 2022, out the total supply of 21 million.

A block in the Bitcoin network is being mined approximately every ten minutes, which increases the circulating supply by 6.25 bitcoins.

Also Read: Fraud Alert: This Doge-Named Crypto Is A Honeypot Scam

To slow the rate of Bitcoin production, halvings take place roughly every four years. The Bitcoin halving is largely dependent on the speed at which coins are mined. After the 210,000th block since the last halving event is mined, the reward will be halved once again. This is estimated to occur sometime between February and June 2024.

We can expect to see a circulating supply of 20 million bitcoins in the year 2026. The final total supply of 21 million Bitcoins is expected to be reached in the year 2140.

After all 21 million Bitcoins have been mined, miners will still need to contribute to the Bitcoin network to keep it up and running.

Once the total supply has been excavated, miners will only receive a share of the transaction fees spent by people who send transactions within the network.

Also Read: Here’s How Much $100 In Bitcoin Could Be Worth If BTC Returns To All-Time Highs

Read at Benzinga

Read the original article on Benzinga

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