ChainCatcher News: Bitcoin has mined 19,997,001.16 coins, only about 3,000 coins away from the 20 million milestone. At the current rate of production, this will be reached within 7 days. This means that 95% of the fixed total supply of 21 million bitcoins has entered circulation, with the remaining 1 million coins to be gradually mined over the next century.
Bitcoin’s creator, Satoshi Nakamoto, embedded the 21 million cap into the protocol. With the halving mechanism occurring every four years, Bitcoin’s inflation rate has dropped below 1%. Currently, about 450 coins are mined daily. At this rate, 99% of the supply will be mined before January 2035, with the last bitcoin expected to be mined in 2105. The final mining process is projected to continue until around 2140.
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