95% Of Bitcoin Has Now Been Mined: ’s Why It’s Important 2025
With just under 2 million Bitcoin that will ever be mined from here on out, Bitcoin’s “real story” is about to unfold.
Bitcoin’s total circulating supply has just crossed 95% of its 21 million hard supply cap — a massive milestone baked in nearly 17 years ago when creator Satoshi Nakamoto mined the genesis block on Jan. 3, 2009.
With 19.95 million Bitcoin now in circulation, this leaves just 2.05 million Bitcoin to be mined. The question is, what does this mean for the future of Bitcoin and its price?
Speaking to Cointelegraph, Thomas Perfumo, a global economist at crypto exchange Kraken, said it’s an important milestone in the Bitcoin narrative, because annual supply inflation is currently around 0.8% per annum, and hard money “requires a credible narrative for people to confidently adopt a currency as a store of value.”
“This milestone is a reminder of Bitcoin’s resistance against debasement and intervention, operating as designed nearly 17 years later,” Perfumo added.
It has been speculated that by limiting the entrance of new supply, each coin’s value should increase as demand increases while supply is choked.
However, Jake Kennis, a senior research analyst at onchain analytics platform Nansen, said the milestone is unlikely to immediately move the market. It does, however, validate Bitcoin's digital gold narrative and highlights how core holders and institutional players are locking up the limited supply for long-term holding.
“It emphasizes Bitcoin’s scarcity, but the remaining 5% will take well over 100 years to reach 100% circulation due to halving events. While increased scarcity can psychologically support prices, this particular milestone is more of a narrative event than a direct price catalyst,” Kennis said.
“The real story isn’t the 95% number itself, but Bitcoin's supply schedule working exactly as designed, it is predictable and scarce in an era of unlimited fiat money printing,” he added.
Based on the block discovery rate and the halving process, which occurs roughly every four years, or every 210,000 blocks of transactions, the last Bitcoin is predicted to be mined around 2140.
Source: CoinTelegraph
