How Many Bitcoins Are in the World?
How Many Bitcoins Are in the World?
Bitcoins, the digital currency that has taken the financial world by storm, have sparked curiosity about their total supply. As you delve into this topic, it’s essential to understand the various dimensions of Bitcoin’s existence. Let’s explore the number of bitcoins in the world from multiple perspectives.
Understanding Bitcoin Supply
Bitcoin’s supply is predetermined, and it follows a specific algorithm. The total supply of bitcoins is capped at 21 million. This limit was set by the creator of Bitcoin, Satoshi Nakamoto, to ensure scarcity and maintain the value of the currency over time.
Bitcoin Mining and Supply Distribution
Bitcoins are created through a process called mining. Miners use their computers to solve complex mathematical problems, and in return, they receive bitcoins as a reward. This process is designed to become more challenging over time, which slows down the rate of new bitcoins being created. As of now, approximately 18.9 million bitcoins have been mined, leaving around 2.1 million yet to be discovered.
Bitcoin Distribution Table
| Year | Number of Bitcoins Mined | Percentage of Total Supply |
|---|---|---|
| 2009 | 50,000 | 0.23% |
| 2010 | 1,050,000 | 4.89% |
| 2011 | 2,050,000 | 9.48% |
| 2012 | 3,150,000 | 14.58% |
| 2013 | 4,950,000 | 23.14% |
| 2014 | 6,950,000 | 32.14% |
| 2015 | 8,950,000 | 41.58% |
| 2016 | 10,950,000 | 51.23% |
| 2017 | 13,950,000 | 65.23% |
| 2018 | 16,950,000 | 79.58% |
| 2019 | 18,950,000 | 89.58% |
Bitcoin Circulation and Unmined Supply
While the total supply of bitcoins is 21 million, not all of them are in circulation. Some bitcoins are still unmined, and others have been lost or are held in cold storage. The exact number of unmined bitcoins is difficult to determine, but it is estimated to be around 2.1 million. Additionally, there are approximately 3.8 million bitcoins that are considered lost or inaccessible due to various reasons, such as forgotten passwords or lost wallets.
Bitcoin’s Market Value and Supply
The market value of bitcoins plays a significant role in determining their overall worth. As of now, the market value of a single bitcoin is hovering around $50,000. With a total supply of 21 million, the total market value of all bitcoins is approximately $1.05 trillion. This value can fluctuate significantly due to market dynamics and external factors.
Bitcoin’s Potential Future
As the number of bitcoins in circulation continues to increase, their scarcity becomes more evident. With only 2.1 million bitcoins yet to be mined, the value of existing
