JAKARTA – Bitcoin on Friday, April 8 entered the 19 millionth mining. This became a landmark event for the number one cryptocurrency. Nineteen million Bitcoins are now in circulation, with only 2 million Bitcoins that have not been minted (or mined) until approximately the year 2140.
In block 730002, mined by SBI Crypto, the 19 millionth Bitcoin entered circulation. SBI Crypto earned 6.32 BTC, approx. 293.000 US dollars (IDR 4.2 billion) for issues in transaction fees and block rewards.
Seeing this momentous event, the Bitcoin community quickly celebrated the milestone event.
The CEO of one of the world's most friendly Bitcoin miners ESG, Kjetil Hove Pettersen of Kryptovault, told Cointelegraph: "we only have two million Bitcoins—less than 10% of the total, left to mine."
"This may seem like a small number at first glance, but I believe the best days for mining are still ahead of us," said Pettersen.
Bert de Groot, the founder of Bitcoin interest mining company Bitcoin Bloem, told Cointelegraph that “19 million Bitcoins mined today marks a historic moment.”
“It makes us realize once again how important Satoshi Nakamoto's work is,” says de Groot. "We wish we could send flowers to show our gratitude (to him)."
According to Vlad Costea, founder of Bitcoin Takeover, “there are only 2 million BTC left to mine in the next 118 years!” Over the past 13 years since the inception of Bitcoin, miners have discovered 19 million Bitcoins. The last Bitcoin is expected to be mined in 2140.
The 18.5 million millionth Bitcoin was mined in September 2020, as the current issue rate is 6.25 Bitcoins per block. The next halving, in which the issuance rate is cut in half, is scheduled for 2024.
VOIR éGALEMENT:
For the Bitcoin community, the 19 millionth Bitcoin mining highlights the fact of Bitcoin's current scarcity. According to the Human Rights Foundation's chief strategy officer Alex Gladstein, the scarcity is even more pronounced, given how early the world is on its way to adopting Bitcoin.
Even today, El Salvador is the only nation-state that has adopted Bitcoin as a legal tender. They are even now issuing Bitcoin-backed “Volcano Bonds” to raise money. However, several other countries including Brazil are showing promising signs of Bitcoin adoption in 2021.
With less than 10% of Bitcoins left to mine, the most aggressive Bitcoin buyers, such as Do Kwon's Luna Foundation Guard, face an uphill battle if they are to continue piling up Sats.
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