The Bitcoin network has passed 18.5 million bitcoin in circulation. This means less than 2.5 million is left to be mined.
Interestingly, half of that 2.5 million will be mined in the next 4 years only.
Below is the breakdown of the numbers as percentages:
- 18, 500, 000 mined (88.1%)
- 2, 500, 000 unmined (11.9%)
- 1, 250, 000 to be mined by 2024 (6%)
- 21, 000, 000 to be mined by 2140 (100%)
2020, unlike previous years in the bitcoin history, has seen remarkable interest in bitcoin and crypto with insitutional investors increasing their bitcoin allocations substantially regardless of short-term price dips.
While the 2020 bitcoin halving did not come with the expected post-halving rally, this does not seem to have deterred investors at all.
The interest in crypto is largely coming from the belief that the market will improve with regulations for the crypto market becoming clearer in the future.
On September 14, 2020, MicroStrategy completed its acquisition of 16,796 additional bitcoins at an aggregate purchase price of $175 million. To date, we have purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses.
— Michael Saylor (@michael_saylor) September 15, 2020
Here are a few stats that show the level of interest in bitcoin in 2020:
- Macro-investor and billionaire, Paul Tudor, confirms he bought 21, 454BTC
- GrayScale Investments, now has about 500, 000 (2.4% of the current bitcoin supply) under its management
- Bakkt, a regulated crypto asset custody platform by ICE, reports BTC futures contracts daily trading of more than $200 million
- Daily bitcoin contracts on Binance, world’s largest exchange by volume, total over $2.5 billion
- The Norwegian Government Pension Fund, world’s largest sovereign crypto fund at over $1 trillion in assets, now owns 577.6 bitcoins
- MicroStrategy, the world’s biggest business intelligent firm, adopts bitcoin as its primary reserve asset by purchasing 38, 250 bitcoins worth $425 million at the time of purchase
- Bitcoin is the 6th largest world currency so far with a market cap of Over $200 billion
As talk of crypto regulation spreads around the world and the global economic climate amid the Covid-19 pandemic continues to take hold, bitcoin will continue to be viewed as a valuable reserve and hedging asset and its value is only going to go up.
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