As Bitcoin is struggling to maintain the $48,000 price range, the famous cryptocurrency has reached a major milestone in its history.
A report from CoinDesk states that Bitcoin's circulating supply has crossed the 18.89 million Bitcoin mark, which means that 90% of the total 21 million supply of Bitcoin has successfully been mined. It took 12.9 years to mine 90% of the total supply of BTC, with the first Bitcoins being mined on January 9, 2009.
According to the publication, it will take a staggering 112 years to mine the remaining 10%, with the estimated time frame for completion is sometime in February 2140. Bitcoin's value has been in a downwards trend ever since it reached its new all-time high of $69,000 back in November, and with the digital asset already down 30%, some are wondering if the range the coin is currently sitting at is the bottom. To find out more, check out the below link.
"The Bitcoin circulating supply has now passed 18.9M BTC, which is 90% of the total 21M coins that will ever exist. It took 12.9yrs to mine the first 90% of the supply and will take approximately 112yrs to mine the remaining 2.1M," Glassnode noted.