The Clock Is Ticking on Bitcoin's Total Supply. Here's What's Next for Its Price

According to Bitcoin historian Pete Rizzo, there are now officially less than 1.2 million BTC left to be mined.

Bitcoin historian Pete Rizzo has revealed that less than 1.2 million BTC now remains to be mined. This observation underscores Bitcoin's defining characteristic - its scarcity, which plays a crucial role in its value proposition. As the supply diminishes, the potential for increasing demand could propel its price to greater heights.

Bitcoin's total supply is limited to 21 million coins, a design implemented by its pseudonymous creator, Satoshi Nakamoto. With 19.8 million BTC already mined, the remaining 1.2 million accounts for less than 6% of the total supply.

The Bitcoin halving event, which occurs every four years, further reduces the already limited supply. During a halving, the reward for mining new blocks is slashed by half, slowing the rate at which new Bitcoins enter circulation.

The next Bitcoin halving is projected to take place on April 17, 2028, at a block height of 1,050,000. At this point, the Bitcoin block reward will be reduced to 1.5625. The last Bitcoin halving occurred on April 20, 2024, at block height 840,000, with the Bitcoin block reward halving from 6.25 to 3.125.

Given the remaining less than 1.2 million BTC to be mined, at the current rate of block production and the halving schedule, experts estimate that the last Bitcoin will be mined around 2140. This long-term horizon ensures that Bitcoin's scarcity will continue to be a defining characteristic for decades to come.