BTC News: More than 95% of all bitcoin has already been mined, rest will take more than a century

CoinDesk

by James Van Straten

March 3, 2026

AI-Generated Deep Dive Summary

Bitcoin is on the verge of a significant milestone as more than 95% of its total supply approaches circulation. With only approximately 3,000 BTC remaining until the 20 million mark, the cryptocurrency is set to achieve this threshold in about a week at current mining rates. This event underscores Bitcoin’s scarcity narrative, as it highlights the limited and predictable nature of its supply compared to fiat currencies, which can be expanded indefinitely by central banks. The fixed maximum supply of 21 million BTC was hard-coded into Bitcoin’s protocol by its creator, Satoshi Nakamoto, to establish a form of money with absolute scarcity. This cap has become a cornerstone for Bitcoin maximalists, who argue that it is essential to the cryptocurrency’s value proposition as “hard money.” While the exact reasoning behind the 21 million figure remains unclear, this limit has played a crucial role in building trust and credibility around Bitcoin’s predictable supply. The slowing issuance of Bitcoin due to halvings—events that occur approximately every four years and reduce miner rewards by half—has further emphasized its scarcity. At current rates, only about 450 BTC are mined daily, pushing inflation below 1%. This gradual reduction in new supply is expected to continue, with 99% of Bitcoin’s total circulation projected to be achieved by January 2035 and the final coin likely arriving around 2105. After that, only transaction fees will sustain miners, marking a significant shift toward a fee-driven revenue model. For supporters, the nearing of the 20 million milestone reinforces Bitcoin’s appeal as a scarce asset. However, this also raises questions about the long-term sustainability of the network’s security and economics, which will increasingly depend on transaction fees rather than block rewards. As new supply dwindles, the focus will likely shift to how Bitcoin’s network can adapt to this changing landscape while maintaining its position as a leading cryptocurrency. In summary, the approaching 20 million BTC milestone is more than just a symbolic achievement; it is a testament to Bitcoin’s scarcity model and its unique position in the financial world. For crypto enthusiasts, this event

Verticals

cryptofinance

Originally published on CoinDesk on 3/3/2026