On Friday, the 19th million Bitcoin (BTC) has been already mined, and this is a great milestone for the world’s number one cryptocurrency. With this, a total of 19 million Bitcoins are in circulation to date, and only 2 million Bitcoins remain to be minted before all of it becomes exhausted by the year 2140 (approximately).
This milestone has been achieved by the SBI Crypto in block 730002, and they have earned 6.32 BTC, which roughly amounts to US 293,000 dollars. The momentous occasion has been celebrated by the whole Bitcoin community from all over the world after news of it has spread like wildfire.
According to Kjetil Hove Pettersen, the CEO of Kryptovault, another Bitcoin mining company, the number two million may seem like a small number which is actually less than 10 percent of the total bitcoin in circulation, but he thinks the glory days of Bitcoin are still yet to come.
The founder of Bitcoin Bloem, a Bitcoin flower and mining company, Bert de Groot, has stated that reaching 19 million is a milestone for bitcoin miners all over the world and that makes ponder over the importance of the work that Satoshi Nakamoto has done. In September 2020, the 18 million five hundredth Bitcoin was mined, and the current rate of issuance is 6.25 Bitcoin per block. Also, the last Bitcoin is anticipated to be mined somewhere around the year 2140.
The Bitcoin community thinks that the 19 millionth Bitcoin mined spotlights the shortage of Bitcoin as the countries are starting to regulate and adopt Bitcoin. Till today, El Salvador is the only country that has adopted Bitcoin as the country’s legal tender, but there are many countries that are showing signs of adopting Bitcoin, like Brazil.
