Bitcoin (BTC) Scarcity Sets In: 85% of the 21 Million Total Supply is Mined

Bitcoin network has mined at least 85% of its total supply as of August 1. In other words, there are only 3.15 million new BTC coins to be mined in the coming 120 years.

The data on the status of Bitcoin mining comes from a blockchain monitoring resource. The data shows that Bitcoin miners hit the 17,850,000 mark in the validation process. This milestone means that there is going to be a significant reduction of the block rewards to miners over a long period of time, precisely to the year 2140.

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