1. Maximum supply (hard cap)
Total possible supply: 21,000,000 BTC
The exact limit according to the code: 20,999,999.9769 BTC
(Because the reward is counted in satoshis and rounded down at every halving)
2. Current situation (October 2026)
Circulating supply: approximately 20.101 million BTC (95.7%)
Remaining supply: approximately 899,000 BTC (4.3%)
The 20 million BTC milestone was surpassed in March 2026.
3. Block Reward (Mining Subsidy) System
New bitcoins are created only through the Coinbase Transaction (with each new block).
Era
Block Range
Reward per Block
Period (approx.)
1
0 – 209,999
50 BTC
2009–2012
2
210,000 – 419,999
25 BTC
2012–2016
3
420,000 – 629,999
12.5 BTC
2016–2020
4
630,000 – 839,999
6.25 BTC
2020–2024
5 (current)
840,000 – 1,049,999
3.125 BTC
2024–2028
6
1,050,000 – 1,259,999
1.5625 BTC
2028–2032
Halving: The reward is cut in half every 210,000 blocks (approximately every 4 years).
Current reward: 3.125 BTC per block (since April 2024).
Next halving: At block 1,050,000, expected around April 2028 → the reward will become 1.5625 BTC.
4. Key Technical Points
Block time: 10 minutes on average (strictly controlled).
New supply per day: approximately 450 BTC (144 blocks × 3.125).
Annual inflation (current): approximately 0.82%.
Last satoshi: expected to be issued around the year 2140; after that, miners will earn only from transaction fees.
Smallest unit: 1 satoshi = 0.00000001 BTC.
All these rules are hard-coded in the Bitcoin Core source code and cannot be changed without the consent of the majority of the network.
