What is the issuance and circulation volume of Bitcoin?

Bitcoin Issuance and Circulation Volume1. Issuance

• Bitcoin has a maximum supply of 21,000,000 coins, as defined in its source code.
• The issuance of new bitcoins is controlled through a process known as "mining," where computers solve complex mathematical problems to validate transactions on the Bitcoin network.
• Miners receive a block reward for successfully validating a block, which includes a certain number of newly issued bitcoins.

2. Circulation Volume

• As of August 2023, approximately 19.3 million bitcoins have been issued.
• The remaining 1.7 million bitcoins are still in circulation and have not been mined.
• The circulation volume of Bitcoin fluctuates as users buy and sell coins on exchanges, or hold them in their wallets.

3. Daily Issuance

• The issuance of new bitcoins is gradually reduced over time.
• The block reward is halved approximately every four years, which slows down the pace of new Bitcoin issuance.
• As of August 2023, the daily issuance rate is approximately 900 bitcoins, and is expected to decrease further with future block reward halvings.

4. Historical Issuance

• The following table shows the historical issuance rate of Bitcoin:

Year	Issuance Rate (Coins per Day)
2009-2012	5,000
2012-2016	2,500
2016-2020	1,250
2020-2024	625
2024-2028	312.5
...	...

5. Projected Circulation Volume

• It is estimated that all 21 million bitcoins will be issued around the year 2140.
• The circulation volume will continue to increase gradually as more bitcoins are mined and released into the market.
• However, the pace of circulation will slow down as the issuance rate decreases over time.

Conclusion

The issuance and circulation volume of Bitcoin have a significant impact on its supply and demand dynamics. The maximum supply limit of 21 million coins, combined with the controlled issuance rate, contributes to the perceived scarcity of Bitcoin and its status as a store of value.