Bitcoin has officially reached a pivotal milestone with 95% of its total 21 million coin supply now mined, leaving just over 1 million BTC remaining to be extracted over the next century. This achievement marks a critical inflection point that amplifies Bitcoin's scarcity narrative and signals a fundamental shift in how the world's first cryptocurrency will function going forward.
Bitcoin has achieved a landmark moment in its 16-year history, with miners successfully extracting 95% of the cryptocurrency's total supply. With approximately 19.95 million Bitcoin now in circulation, only about 1.05 million coins remain to be mined before the hard cap of 21 million is reached—an event not expected until approximately 2140.
This milestone underscores Bitcoin's core value proposition: programmatic scarcity. Unlike fiat currencies that central banks can print at will, Bitcoin's supply is mathematically limited by its underlying code. As the remaining supply dwindles, the scarcity intensifies, potentially strengthening the digital asset's appeal as a store of value comparable to gold.
The timing of this achievement is particularly significant as it coincides with Bitcoin's maturation as an institutional asset class. With major corporations, asset managers, and even nation-states now holding Bitcoin on their balance sheets, the scarcity narrative gains additional weight. Every Bitcoin mined from this point forward represents an increasingly rare piece of a finite digital resource.
However, the dwindling supply also brings important implications for Bitcoin's security model. Currently, miners earn revenue through both block rewards and transaction fees. As block rewards continue to halve every four years—the next halving reducing rewards from 3.125 BTC to 1.5625 BTC in 2028—transaction fees will need to compensate for declining block subsidies to maintain network security.
This transition from a reward-based to a fee-based security model represents what many consider Bitcoin's "real story." The network must prove it can sustain sufficient mining activity through transaction fees alone, ensuring robust security even as new coin issuance approaches zero.
For investors and market observers, the 95% milestone serves as a powerful reminder of Bitcoin's deflationary design. With inflation rates now below 1% annually and declining with each halving, Bitcoin's monetary policy stands in stark contrast to traditional currencies, reinforcing its position as a hedge against monetary expansion and a potential long-term store of value in an increasingly digital economy.