Bitcoin (CRYPTO: BTC) has crossed a major milestone with the mining of 20 million coins, leaving less than 5% of the total supply yet to be issued
Kraken noted in a Monday blog post that unlike traditional assets such as gold, Bitcoin has a hard supply cap enforced by its code and decentralized network of nodes.
The fixed limit was embedded in Bitcoin’s design by its pseudonymous creator Satoshi Nakamoto in the 2009 genesis block.
Bitcoin’s issuance schedule is governed by the halving mechanism, which reduces the block reward roughly every four years.
When the network launched, miners earned 50 BTC per block.
The reward later fell to 25 BTC, then 12.5 BTC and 6.25 BTC. After the 2024 halving, the reward dropped to 3.125 BTC per block.
Each halving slows the rate at which new coins enter circulation, steadily tightening supply growth.
As a result, Bitcoin’s annual inflation rate has fallen to below 1%, lower than that of gold and most fiat currencies. Supporters argue this programmed scarcity makes Bitcoin a form of “hard money” and a potential long-term store of value.
The mining of 20 million Bitcoin therefore represents more than a numerical milestone; it underscores the network’s core economic design and long-term scarcity.
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