KEYTAKEAWAYS
- Bitcoin’s fixed supply of 21 million coins creates scarcity, making it a deflationary and inflation-resistant digital asset trusted as a long-term store of value.
- As of 2025, 19.91 million Bitcoin have been mined, but up to 20% are permanently lost, making the effective circulating supply significantly lower than reported totals.
- Once block rewards end in 2140, miners will depend entirely on transaction fees, reshaping Bitcoin’s economic incentives and future network security.
CONTENT
Bitcoin’s supply is capped at 21 million coins. Learn how many are mined, how scarcity drives value, and what happens when rewards end in 2140.
WHAT IS THE TOTAL SUPPLY CAP OF BITCOIN?
From the very beginning, Bitcoin was designed with a strict and unchangeable rule — its maximum supply is capped at 21 million coins. This limit, set by its creator Satoshi Nakamoto, was intended to build a financial system free from the risks of inflation that plague traditional currencies.
Unlike central banks that can print unlimited fiat money, the Bitcoin protocol enforces a hard-coded supply ceiling, ensuring that no more than 21 million BTC will ever exist. This scarcity is what gives Bitcoin its reputation as a deflationary, inflation-resistant asset. In other words, when global demand for safe-haven assets rises, Bitcoin derives much of its long-term value from its limited and scarce nature.
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>>> More to read: What is Bitcoin: A Comprehensive Overview
HOW MANY BITCOINS HAVE BEEN MINED SO FAR?
As of August 2025, approximately 19.91 million Bitcoin have already been mined. The mining process began in 2009, but due to the scheduled halving events — where block rewards are cut in half every four years — the rate of new BTC issuance has slowed significantly. With just over 1 million coins left to be mined, projections suggest the final Bitcoin will not be created until around the year 2140.
📌 How Long Does It Take to Mine One Bitcoin?
Currently, miners receive a reward of 3.125 Bitcoin for every block they successfully add to the blockchain. Since a new block is mined roughly every 10 minutes, this equates to an average of 0.3125 Bitcoin per minute across the entire network. In other words, it takes around 3.2 minutes of global mining activity to generate a single new Bitcoin.
📌 What Is the Current Circulating Supply of Bitcoin?
In theory, the current circulating supply of Bitcoin is nearly identical to the total mined amount, standing at around 19.91 million coins as of 2025. However, the real picture is more complex. A significant portion of these coins is considered permanently lost — with estimates suggesting up to 20% may be inaccessible.
These losses often stem from misplaced private keys, discarded hard drives, or forgotten crypto wallets. As a result, the effective supply of Bitcoin is much lower than the raw numbers indicate. This built-in scarcity adds to its perceived value, making Bitcoin even rarer than its original capped supply suggests.
>>> More to read: What is Bitcoin Mining Difficulty?
WHAT HAPPENS TO BITCOIN TRANSACTION FEES ONCE ALL BTC ARE MINED?
When the last Bitcoin is mined, block rewards will disappear entirely. At that point, miners will rely solely on transaction fees to earn revenue. These fees, paid by users whenever they send Bitcoin, will need to be high enough to incentivize miners to continue securing the network.
🔍 Here are some possible outcomes:
- Rising Transaction Fees: If miners demand higher compensation, users could face increased costs for moving Bitcoin.
- Greater Reliance on Scaling Solutions: Technologies like the Lightning Network may help reduce congestion, keeping transaction fees manageable.
- Mining Consolidation: If fees are insufficient, some miners may shut down operations. While large-scale exits are unlikely, they could raise concerns about network security.
✏️ Summary
Although 2140 is still far off, the end of new Bitcoin issuance will be more than a symbolic milestone. It will test the network’s sustainability when miners rely exclusively on transaction fees rather than block rewards. This shift could reshape the economics of mining and the cost of transactions.
At the same time, Bitcoin’s hard cap is what makes it unique. Its fixed supply underpins its value as a scarce, decentralized asset. Whether through higher fees, improved scaling, or new incentive models, the future of Bitcoin will continue to depend on the forces that have driven it from the start: adaptability, innovation, and trust in a system free from centralized control.
>>> More to read: Lightning Network | What It Is & How It Works
