Bitcoin Hits 20 Million Supply Milestone: Last Coins to Take 114 Years to Mine

Bitcoin reaches 20M supply milestone as final coins set to take 114 years to mine

Bitcoin has achieved another significant milestone. Data indicates that 20 million BTC have been mined, leaving only one million coins left to be introduced into circulation out of a total supply cap of 21 million.

According to data from Glassnode, this landmark was reached in 6,267 days since the Bitcoin network's genesis block was created back in January 2009. However, producing the remaining supply will take significantly longer due to the protocol's designed scarcity model.

Under the current issuance schedule of Bitcoin, the final BTC is projected to be mined around the year 2140, meaning that the last million coins will take approximately 114 years to create.

This milestone highlights Bitcoin's design as a limited digital asset, with its supply growth slowing over time due to periodic block reward halvings.

Rapid Network Growth Outpaces Supply Issuance

While Bitcoin's supply has increased gradually, on-chain data indicates that network adoption and activity have escalated at a much faster pace.

Bitcoin key milestones

Source: X

Data from Glassnode shows how quickly the Bitcoin network has achieved various activity milestones compared to the time required to mine 20 million BTC. For example, while achieving the supply milestone took 6,267 days, this reflects Bitcoin's designed slow issuance schedule.

This difference demonstrates an essential characteristic of the network's economic model: while demand and activity can grow rapidly, the supply expansion remains fixed and predictable.

Miner Selling Pressure Remains Low

Despite fluctuations in cryptocurrency markets, on-chain indicators suggest that Bitcoin miners are not aggressively selling off their holdings.

Data from CryptoQuant’s Miners’ Position Index [MPI] indicates that the metric currently sits around -1.6, showing that BTC transfers from miners to exchanges are below historical averages.

Bitcoin MPI

Source: CryptoQuant

The MPI measures miner outflows against their yearly average. Negative values usually signify that miners are retaining their coins rather than distributing them, which can ease short-term selling pressure in the market.

This behavior exists while Bitcoin is trading near $68,000, following a period of broader weakness within the cryptocurrency market.

Strengthening Scarcity Narrative as Supply Approaches Limit

With over 95% of Bitcoin’s total supply now mined, the network is entering a phase where new coin issuance will become increasingly limited.

Each halving event reduces block rewards by half, slowly diminishing the number of new coins that enter circulation. Consequently, the remaining supply will be distributed at a much slower rate over the next century.

For many investors, the combination of a fixed supply and increasing network usage remains crucial to Bitcoin’s long-term value outlook.

Final Summary

In summary, Bitcoin's recent milestone of reaching 20 million mined coins emphasizes its finite nature as a digital asset. The slow pace of remaining supply issuance combined with steady network activity underlines its value proposition for the future.