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BTC · 32w

The Race to Own 1 Full Bitcoin Has Begun

Only 21 Million Bitcoin for All the World’s Inhabitants

Satoshi Nakamoto designed Bitcoin to be comparable to a commodity such as gold. Bitcoin therefore exists in finite quantities, since it is limited to 21 million units.

The production of new Bitcoins slows down over time as a result of automatic events called Halving.

Currently, 12.5 BTC are newly created and offered as a reward to miners validating a transactions’ block in the Bitcoin Blockchain.

After the Halving of May 2020, the reward will decrease to 6.25 BTC.

The Halving process is written into the Bitcoin source code and by 2140 all Bitcoins will have been mined.

When all Bitcoins have been mined, we will have 21 million Bitcoins available for all the people on Earth.

In fact, there may be even less, since it is estimated that nearly 3 million Bitcoins have already been lost permanently.

This would only make Bitcoin even scarcer and more important to own at least one.

The latest estimates published by the United Nations indicate that the Earth’s population is expected to reach 9.8 billion in 2050 and 11.2 billion in 2100.

Estimates do not extend to 2140, but the world population could be even larger by then.

Taking the United Nations estimates of 2100 as a reference, this would give us a maximum of 21 million Bitcoins for 11.2 billion people.

There will be a maximum of 1 Bitcoin for 533 people.

Assuming that there is an equitable distribution of Bitcoin for each inhabitant of the Earth, each inhabitant could own a maximum of 0.001875 BTC.

Bitcoin is already establishing itself as a reserve of global value.

Phase 2 of its adoption has begun with merchant support for transactions that is expected to develop in the coming years.

If Bitcoin reaches phase 3 of its mass adoption by becoming a unit of account, we would be at the beginning of the hyperbitcoinization of the world that many Bitcoiners fantasize about.

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