Bitcoin Closer Complete Scarcity, Only 2 Million Left Unmined

Bitcoin-Closer-Complete-Scarcity,-Only-2-Million-Left-Unmined
  • Of the 21 million total Bitcoin availability, 19 million is already mined. 
  • Only 2 million Bitcoin (BTC) is left to be mined.
  • The crypto community anticipates a massive bull run amid this discovery.

Bitcoin gets its value from its scarcity. This scarcity comes from Bitcoin (BTC) being a scarce resource. Since its arrival, it was made clear that there are only 21 million Bitcoin available. Due to the crypto being fungible, more than 21 million could own the digital asset. 

In its earlier days, the only way to get Bitcoin was by mining Bitcoin. While Bitcoin miners were the only way to get Bitcoin, those who began mining could trade. These trades were then limited to goods, services, and cash. Eventually, official exchanges such as crypto.con, Binance, and Coinbase allowed trading of Bitcoin against other cryptos.

To this day, Bitcoin maintains its high value due to its scarcity. Presently, Bitcoin miners have mined the major chunk of this limited resource. That is to say, out of the 21 million Bitcoin, 19 million is already mined. 

This leaves just a mere 2 million Bitcoins left for miners to mine. More so, once the last of the Bitcoin is mined, the value for the asset will likely skyrocket. After all, scarce resources tend to have the highest demand. 

One of the biggest Bitcoin fans, Michael Saylor, the CEO of Michael Strategy, keeps stating how Bitcoin’s value will surpass all our expectations because of its scarcity alone. In one of his latest tweets, he says “Satoshi’s saving grace is Bitcoin (BTC)”. 

Presently, the price of Bitcoin (BTC) is $19,729 which is up by 3% over the last 24 hours according to CoinGecko. Many crypto analysts are expecting a massive bull run by early next year. Perhaps more mining will trigger this event.   

Tags:
disclaimer read more

Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

A focused and vigilant storyteller for all things blockchain and cryptocurrency. Besides consuming every piece of literature about the metaverse, she can often be found at industry convections looking for the latest scoop.