INDISPUTABLE FACT: There will only EVER be 21 million bitcoin mined, which is expected to end in 2140. Every 4 years, the supply mined is cut in half. Presently, 12.5 bitcoin are mined every 10 minutes. In May 2020, that will drop to 6.25. Currently about 17.5 million have been produced.
That may seen a lot, but consider these numbers:
- It’s estimated that 4 million bitcoin have been lost forever. Why? Because the person who had control of the private key lost it or died without passing the information on to someone else.
- Approximately 2 million were stolen, but are in limbo and cannot be used because the thieves would be tracked to the thefts due of the transparency of the blockchain.
- The hardcore bitcoin holders (called HODLers ) control around 2.5 million bitcoin and have no plans to ever sell because of their total distrust of governments and fiat currency, so those coins are for all practical purposes out of circulation.
Do the math, and you will discover that even though 17.5 million have been produced, the actual circulating supply that is tradable is only around 9 million.
Therefore there is only about half the amount of bitcoin on the market than most people assume. So the bitcoin for purchase is twice as valuable in terms of scarcity.
Let’s look at some other startling numbers:
- If every U.S. citizen today (330 million) wanted to own bitcoin; there would only be 0.027 bitcoin per person.
- If extrapolated to the world’s population (7.6 billion), then that amounts to 0.0012 per person.
- There are now 42 million millionaires in the world today. Therefore, if every millionaire wanted some bitcoin, that would average 0.5 bitcoin each!
In summary, if you believe in Bitcoin, you’d better grab your share because the big players will grab the majority and cause the price to skyrocket. It’s simple supply and demand.
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