Technically, there will only be 21 million Bitcoins ever in the world – which corresponds to the present-day availability of 18,397,875 Bitcoins. The May 2020 BTC halving event has further reduced the mining reward and also increased the mining difficulty quotient of this cryptocurrency many times over.
Not all of the Bitcoins, out of the already mined 18,397,875 Bitcoin, are available or are actually in circulation. As per industry estimates, close to 30 percent of the BTC have been lost due to misplaced private keys, many hard drive failures, etc.
How many Bitcoins are left for mining
The remaining 2,602,125.0 Bitcoins are yet to be mined by BTC miners who are, in turn, rewarded for preserving the network integrity.
Miners perform transaction validation and also help build new blocks. In return for their efforts, they are given many Bitcoins out of this yet-to-be-mined pool. Technically, it is the source code of Bitcoin that determines the miner’s reward and the schedule of the reward.
In the beginning, miners were given 50 Bitcoins for mining an individual block. First halving reduced the reward to 25 BTC, and second halving bought it down to 12.5 BTC. The reward per block will keep on decreasing in half after every such halving event.
The recently concluded third BTC halving in May 2020 has cut down the mining rewards to a mere 6.25 BTC. Many small scale miners may abandon their operations as the actual reward per Bitcoins mined reduced drastically. Only large dedicated farms will be interested in the Bitcoins left.
How many Bitcoins are in circulation today?
There are around 13,000,000 Bitcoins currently in circulation.
Of all the Bitcoins to ever exist, many Bitcoins are lost due to sheer negligence. Around 4 million (30 percent) of the BTC supply is lost, and approximately 1 million Bitcoins have been reported stolen in numerous heists and hacking scandals. Such unfortunate factors mean that the actual Bitcoins left are far fewer compared to the theoretical 21 million BTC.