Michael Saylor, co-founder and chairman of MicroStrategy, has once again stirred the crypto community with a bold prediction: “99% of Bitcoin will be mined by January 2, 2035.” This projection suggests that Bitcoin mining activity will accelerate, reaching the maximum supply much sooner than many expect. Saylor’s forecast has sparked curiosity about how this might impact Bitcoin’s scarcity and price in the coming decade.
Bitcoin Mining and Supply: A Crucial Relationship
As a finite digital asset, Bitcoin has a capped supply of 21 million coins, with around 94% already mined. According to CoinMarketCap, approximately 19,760,384 BTC are in circulation, leaving just 1,239,588 BTC to be mined. Saylor’s prediction implies a faster pace for mining operations, leading to the rapid depletion of the remaining supply. If mining does indeed accelerate, the Bitcoin supply could reach 99% long before the previously anticipated year of 2140, when the final Bitcoin was expected to be mined.
What Will Happen When 99% of Bitcoin Is Mined?
Saylor’s projection, which significantly shortens the timeline for Bitcoin’s supply exhaustion, has led to speculation about how scarcity will affect its price. Once 99% of Bitcoin is mined, the remaining 1% will become extremely scarce. If demand continues to outpace supply, Bitcoin’s price could skyrocket due to the principles of scarcity. Investors and miners may become even more focused on acquiring the remaining coins, which could drive up both market value and competition.
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Mining Dynamics After the Halving Events
One critical factor in this equation is the impact of Bitcoin’s halving events. Occurring every four years, these events reduce the rewards for mining new blocks, making mining less profitable. As rewards diminish, miners may seek alternative ways to generate income, such as relying on transaction fees. While this change won’t necessarily end mining, it will likely reshape the economics of Bitcoin mining and potentially affect how miners participate in the ecosystem.
Current Bitcoin Price Movements
Throughout September, Bitcoin prices have seen a notable rise, reaching as high as $66,550—a peak not seen since August. As of recent trading, Bitcoin stands at $65,636, posting a modest 0.09% increase in the last 24 hours. This year, Bitcoin has posted one of its strongest September performances, up by 11.31%, bucking the trend of previous Septembers where losses typically averaged 5.9%.
With Saylor’s prediction causing waves in the market, and Bitcoin’s stellar performance in recent months, investors are closely watching for further price increases as we approach the end of the year.
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