According to data from Blockchain.com, the current total circulating supply of bitcoin has reached 18.9 million, which is equal to 90% of the total supply of 21 million bitcoins. This means that by 2140, only 10% of the supply of bitcoin is awaiting to digg.
Satoshi Nakamoto, inventor of Bitcoin, dug up the genesis block of Bitcoin in 2009 and generated 50 Bitcoins. According to Bitcoin’s mechanism, the next block will appear every 10 minutes and rewards will be halved after about 210,000 blocks.
According to this mechanism, in the first four years after the birth of Bitcoin, each block reward is 50 Bitcoins; in the second four years, each block reward is 25 Bitcoins, and so on; until Bitcoin is all dug up around 2140. Because of Bitcoin's special halving mechanism, it has caused Bitcoin's unique deflationary characteristics.
Bitcoin is decentralized, allowing people to freely exchange value without relying on intermediaries. As the global popularity and usage of the Bitcoin network continue to increase, many traditional companies now accept Bitcoin as a payment method.. Demand for Bitcoin continues to increase and therefore Bitcoin is becoming more and more scarce.
A thing is valued if it is rare. Many traders, institutional investors and mining companies have realized the huge potential of Bitcoin's deep value. Most of the Bitcoins that have been dug have not yet entered the market but it is HODL. On-chain data analysis company Glassnode has issued a report to analyze the liquidity of bitcoin supply. A total of 14.5 million bitcoins (accounting for 78% of bitcoin circulation) are held by illiquid entities.
For these HODL fans, a deeper value of Bitcoin is becoming a necessity. Have a similar idea? But what needs to be certain is that due to the existence of HODL fans, Bitcoin does have a lot of room for value-added, and it may be the last period in which Bitcoin can be held at a lower cost.