Source: Zach Pandl, Grayscale Research Director; Compiled by: Golden Finance

On March 9, 2026, in block 939,999, the Foundry USA mining pool mined the 20 millionth Bitcoin. As of now, there are approximately 1 million Bitcoins left to be mined.

Bitcoin is a digital currency and digital payment system that uniquely provides the "medium of exchange" and "store of value" functions of currency. Bitcoin can be used for digital transactions (medium of exchange) without the need for a centralized intermediary. Bitcoin’s supply is capped at 21 million coins, making its supply predictable, transparent, and ultimately scarce (a store of value). Bitcoin maintains scarcity through its “block reward” halving every four years.

The most recent halving occurred in April 2024, reducing the block reward from 6.25 BTC per block (900 BTC per day) to 3.125 BTC per block (450 BTC per day).

The next halving is scheduled for April 2028, when the block reward will be reduced to 1.5625 BTC per block (225 BTC per day).

After the 33rd halving, which is expected to occur around 2140, the block reward will become zero.

By then, the total number of Bitcoins in circulation will have stabilized at 20,999,999.9769, or nearly 21 million Bitcoins (the remaining 0.0231 Bitcoins, currently worth about $1,600 due to rounding, will never be mined).

The point is this: In a world filled with uncertainty, the future supply of Bitcoin is one of the few things we can be fairly certain of. Despite short-term price fluctuations, Bitcoin's inherent scarcity will continue to drive its value growth.