One of the main attractions of Bitcoin is that its supply is limited, always only 21 million. In the case of the central bank's money-printing machine working overtime, this means that Bitcoin will not be diluted by inflation, but may become more and more valuable, which worth cloud mining investment. Bitcoin's continuous impact on new highs also illustrates this point. After many halvings, does Bitcoin still have the prospect of Cryptocurrency investment? How many Bitcoins are currently in circulation on the market? Let's talk about this topic today.
Cloud mining investment-How many bitcoins are still on the market?
In 2018, industry experts estimated that at least 4 million Bitcoins were "lost" and 2 million Bitcoins were stolen. This makes the current theoretical circulation close to 14.5 million usable and tradable tokens.
There are even more extreme estimates of lost bitcoins. A research report stated that 1,500 bitcoins are lost every day, which means that only 14 million bitcoins can be circulated.
At present, the circulation of bitcoin is close to 19 million, accounting for 88.57% of the predetermined maximum of 21 million bitcoins. This means that there are about 2.4 million bitcoins to be mined. According to the mathematical model that controls the issuance of Bitcoin, it will take about 119 years to mine the remaining 11.5% of the supply. 2140 is the target date for the depletion of Bitcoin production. Every four years, the number of Bitcoins produced in each block is halved, and more and more people participated in cloud mining investments. It takes 10 minutes to produce a block, and the current mining reward is 6.250 bitcoins per block. By 2024, each block will drop to 3.125 bitcoins, halving every four years until the supply dries up. Currently, 900 bitcoins are mined every day. The scarcity of Bitcoin also confirms it is worth cloud mining investment.
Cloud mining investment prospects: who is the Bitcoin giant?
Bitcoin's ownership is very heavy, which means that a few addresses own most of the asset. Recently, this situation has been exacerbated as large institutional funds such as Grayscale and MicroStrategy have invested thousands of funds and cloud mining investments at a time. There are also widespread reports that Satoshi Nakamoto has mined about 1 million bitcoins, but these tokens have not moved in the past 10 years.
According to the Bitcoin Rich List, only 101 addresses hold 14% of the current Bitcoin supply, which is equivalent to US$90 billion. Although many of the larger bitcoins belong to exchanges. In addition, 30% of bitcoins are also stored in the whale address, which contains 1,000 to 10,000 coins.
There is another obvious statistic, that about half of the addresses of wallet hold less than 0.001 bitcoins. Therefore, in essence, more than 85% of all bitcoins currently in circulation are stored in addresses containing more than 10 tokens.
If this trend continues and whale investors have no intention of selling their bitcoins, the number of bitcoins left for ordinary people to buy will be greatly restricted.
Briefly, in 119 years, only 2.4 million bitcoins are left for mining. With nearly 90% of Bitcoins already in circulation or disappearing forever, these new Bitcoins will be very few in circulation, and Bitcoin has a scarce cloud mining investment prospect. The current market cycle shows that institutions have been buying assets at unprecedented levels. During its 12-year service life, the price of the asset has continuously hit new highs and new lows in the bear market, which demonstrates the value of cloud mining investment. Longs and shorts competed in four different market cycles, but the overall trend is upward.