Around this Friday, eighteen millionth bitcoin will be mined. Over 85% of bitcoins are already mined.
Crypto investor and co-founder of Morgan Creek Digital Assets investment firm Anthony Pompliano noted that on October 18, 18 millionth bitcoin will be mined.
Pompliano also added that it remains to mine only 3 more million bitcoins. Bitcoin issuance is limited to 21 million. Pompliano suggested launching a campaign with the hashtag # 3MillionLeft on Twitter to increase the recognition of the name of the first cryptocurrency.
Currently, 17,997,150 bitcoins, or 85.7% of the total emission, have been mined. On average, a block in a bitcoin network is mined at a speed of one block in 10 minutes. The miner’s reward for the mined block is currently 12.5 BTC. But in May 2020, another halving will take place – halving the reward to miners for the mined block. It is expected that this will lead to an increase in the rate of bitcoin. The estimated date for the upcoming halving is May 14th.
The closer the halving, the higher the competition among miners for a reward. The hashrate in the Bitcoin network on September 26 reached a historic maximum (108.46 million TH/s). After that, it decreased, and on October 10 it again approached a record high – 104.75 million TH/s.