“A digital monetary systеm with transparent and limited supply is becoming increasingly attractive against the backdrop of fiat currency risks,” analysts note.
The Bitcoin network has hit a historic milestone: the total number of mined coins has surpassed 20 million. This means that fewer than one million BTC remain to be mined — a process that will unfold over the course of nearly an entire century.
“The market is about to encounter something fundamentally new — a global asset whose new supply has almost run out,” wrote Energy Co managing partner David Eng.
Currently, miners produce an average of around 450 bitcoins per day. However, this figure is cut in half approximately every four years as a result of the Bitcoin halving. At the current pace, the last bitcoin is expected to be mined around the year 2140.
Predictability as a Competitive Advantage
Raphael Zagury, CEO of mining company Elektron Energy, described the transparency of Bitcoin’s emission schedule as something without precedent in financial history.
“The issuance schedule is known decades into the future. People value clear and stable rules — especially when it comes to money,” he stated.
Swyftx portfolio manager Tommy Rogulj added that the countdown to the final million only highlights what makes Bitcoin unique: “It is an asset with a hard-capped supply that no regulator controls and that cannot be ‘printed’ like fiat currencies. In a world gripped by instability, this is fundamentally important.”
A similar stance was voiced by Grayscale Investments back in December, noting that a digital monetary systеm with transparent and limited supply is gaining relevance amid growing risks associated with fiat money.
Will This Milestone Move the Price?
Crypto market analysts are largely cautious about the event’s impact on prices.
“It’s already priced in. Bitcoin’s supply growth rate is known in advance and is already lower than that of gold. I see this as a neutral event with no meaningful market consequences,” said Capriole Investments founder Charles Edwards.
Zagury shares a similar view: “The milestone alone is unlikely to shift the price in the short term — liquidity and macro still dominate. But over a longer horizon, the combination of scarcity and predictable monetary policy is a powerful foundation. Markets tend to reward systems that can be trusted.”
What Happens After the Last Coin?
Debates about what will happen to the network after 2140 have long been a topic within the Bitcoin community. The primary concern is a potential decline in network security: once block rewards disappear, miners will have only one source of income — transaction fees. Some experts believe this will inevitably drive up the cost of transfers, though most agree that over such a long timeframe, the market will find a stable equilibrium.
