According to the Bitcoin protocol, the maximum number of bitcoins that can be created is 21 million. As of March 2023, approximately 18.9 million bitcoins have been mined, meaning there are around 2.1 million bitcoins left to be mined.
The rate of new bitcoin creation, or mining, is programmed to slow down over time, with the number of new bitcoins mined per block decreasing every four years in a process known as the halving. The most recent halving occurred in May 2020, cutting the block reward from 12.5 BTC to 6.25 BTC. The next halving is expected to occur in 2024, further reducing the block reward to 3.125 BTC.
It's important to note that the process of mining Bitcoin requires significant computational resources and electricity consumption. As the number of bitcoins left to mine decreases, the difficulty of mining increases, making it more challenging and resource-intensive.
The article does not constitute financial advice.
