What happens to Bitcoin after 21 million of them are mined?
A question that frequently comes to the minds of those following the crypto market.
Below we will answer this question in a simple and easy way:
The current supply of Bitcoin in circulation is 19,645,312 BTC.
About 1.35 million Bitcoins remain until the limit of 21 million coins is reached.
The total number of Bitcoins will be reached and extracted on 2140, meaning that you and I will not be present at this event.
Bitcoin miners are awarded 6.25 BTC for each block that is validated and this reward will split into 3.125 BTC at the end of April 2024.
Reaching the maximum limit for Bitcoin, transaction fees will then be relied upon to pay the miners.
The possibility that the price of Bitcoin at that time will reach imaginary numbers, and therefore the fees will be very sufficient for all miners. Of course, all of these are just expectations.
The possibility that a higher and more widely used technology than Bitcoin will emerge and eliminate the latter.
They are all possibilities because no one predicts what will happen 120 years from now.
However, Bitcoin's design is sustainable and can last for many decades.
