How many bitcoins are there total

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The Bitcoin protocol defines a hard cap on the total number of bitcoins that will ever exist: 21 million.

Currently, around 20 million BTC are in circulation, with roughly 1 million yet to be mined. The mining reward decreases over time.

Key Points:

  • Maximum Supply: 21 million BTC
  • Circulating Supply: Approximately 20 million BTC
  • Remaining to Mine: Roughly 1 million BTC

This scarcity distinguishes Bitcoin from traditional currencies.

This finite supply is a fundamental aspect of Bitcoin’s design, intended to create digital scarcity and potentially act as a hedge against inflation. Unlike fiat currencies, which central banks can print at will, Bitcoin’s supply is predetermined and transparently governed by its underlying code.

The remaining bitcoins will be released gradually over time through the mining process. As miners solve complex cryptographic puzzles, they are rewarded with newly minted bitcoins. However, the block reward, which is the amount of bitcoin awarded per block mined, is halved approximately every four years. This event, known as the “halving,” reduces the rate at which new bitcoins enter circulation, further reinforcing Bitcoin’s scarcity.

The limited supply, coupled with increasing adoption and demand, is a key factor driving Bitcoin’s value proposition as a store of value and a medium of exchange. However, it’s important to note that the price of Bitcoin is also influenced by various other factors, including market sentiment, regulatory developments, and technological advancements.

While the theoretical maximum supply is 21 million, some bitcoins may be permanently lost due to forgotten private keys or other unforeseen circumstances. These lost coins effectively reduce the actual circulating supply, potentially increasing the scarcity of the remaining bitcoins.

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