Bitcoin Is Predicted To Run Out In 2140, This Is The Fate Of BTC In The Future

Bitcoin is predicted to run out. (Kanchanara-Unsplash)

JAKARTA – Bitcoin (BTC) is the first cryptocurrency created by the pseudonym Satoshi Nakamoto. Bitcoin is currently the largest cryptocurrency in the world by market capitalization.

Because Bitcoin uses the Proof of Work (PoW) algorithm, various groups ranging from individuals, companies, to countries flock to mining. Over time, rumors circulated that the supply of Bitcoin was dwindling, and could potentially even run out.

In addition, until now the identity of Satoshi Nakamoto has not been revealed. On October 31, 2008, Nakamoto published a Bitcoin whitepaper that described in detail how digital money could be implemented for peer to peer transactions or without a third-party intermediary controlling it such as a bank.

According to a Coinmarketcap report, on January 3, 2009, Nakamoto mined his first block on the Bitcoin network known as the genesis block. This is the first Bitcoin to be launched in the world. When it was first introduced, the price of Bitcoin was still 0 dollars per coin.

At that time most of the Bitcoin was generated from mining or mining. Mining activities themselves require high computing power such as the use of VGA. Currently, mining rig machines use VGA GTX 1660 or RX 6600 and other latest series. Therefore, mining activities require a large amount of electrical energy.

Bitcoin has a total supply of 21 million BTC. Meanwhile, there are 18,959,781 BTC circulating in the market. That means, there are about 2 million more BTC that can be obtained from mining.

According to a data report from Coingecko, the price of Bitcoin has increased 13.2 percent in the last two weeks. Meanwhile, in one year Bitcoin's performance fell by 5.5 percent. Bitcoin had broken through to its all-time high price (ATH) on November 10, 2021, at a price of IDR 984,115,318.

Meanwhile, Blockchain.com reports that the world's most popular cryptocurrency is running out, but it is predicted that the remaining 10 percent supply will last until February 2140.

Then what will happen when Bitcoin runs out because it is mined? According to Investopedia, if that happens Bitcoin can still function as a store of value where miners can profit, even when transaction volume is low and block rewards are gone.

When that moment occurs, miners can incur high transaction fees for processing large, high-value transactions. After Bitcoin runs out, BTC is predicted to become increasingly scarce and its price to continue to grow.