95% of Bitcoin has now been mined: Here’s why it’s important
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.”
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