In this article, we will discuss How Many Bitcoins Are There In The World 2023?
The recent market crisis that wiped out trillions of dollars from the cryptocurrency industry has refocused interest on Bitcoin.
This occurred at a particularly unfortunate time, as crypto gold is close to reaching its maximum quantity.
However, before worrying further about the future of BTC, let’s examine its historical performance.
This post will reveal how many Bitcoins will exist in 2022.
How Many Bitcoins Are There In The World 2023?
According to the data, there are currently 19,1 million BTC in circulation.
This is less than two million short of the maximum quantity of 21 million.
Despite the fact that crypto gold is nearing its rarity, which means that attaining a coin’s maximum supply would result in price inflation as it gets more scarce, its price fell.
BTC has lost more than 70% from its all-time high near $70,000 and is currently trading at $19,000.
Its market value is at $365 billion, down from its all-time peak of $3 trillion in late 2021.
History of Bitcoin’s Circulating Supply
Bitcoin’s supply began with slightly over a million coins 13 years ago. Today, 19 million tokens have been created and the number is growing.
Examine the history of BTC’s circulating supply between 2009 and 2022.
- 2009 – BTC circulated 1.30 million times during the launch
- 2010 – 1.87 million BTC in circulation
- 2011 – 5.26 million BTC in circulation
- 2012 – 8.24 million BTC in circulation
- 2013 – 10.71 million BTC in circulation
- 2014 – 12.34 million BTC in circulation
- 2015 – 13.78 million BTC in circulation
- 2016 – 15.15 million BTC in circulation
- 2017 – 16.40 million BTC in circulation
- 2018 – 16.83 million BTC in circulation
- 2019 – 17.51 million BTC in circulation
- 2020 – 18.19 million BTC in circulation
- 2021 – 18.61 million BTC in circulation
- 2022 – 19.08 million BTC in circulation
Bitcoin Halving
According to the data presented above, the addition of Bitcoin’s circulating supply decreases annually.
2010 and 2011 saw the issuance of almost four billion bitcoins.
From 2020 to 2021, however, only a few works were submitted.
This is due to Bitcoin halving, or the process through which BTC mining earnings are halved.
It occurs every four years or after 210,000 additional blocks have been mined.
In 2009, BTC began with a 50 BTC incentive. As of the latest halving in 2020, the reward per mined block has decreased to 6.25 Bitcoin.
Bitcoin’s Maximum Supply Will Be Reached in 2040
The halving of bitcoin increases crypto gold’s rarity and increases its price by reducing the supply of newly created BTC, despite its increased demand.
Because of this method, its 21 million supply will not be coined until 2040, sixteen years from now.
Circulating Supplies of Bitcoin and Altcoins
In addition to Bitcoins, there are other crypto tokens that perform the same function.
These are referred to as “altcoins” or “alternative coins,” which is a phrase for all tokens besides BTC.
Below is a list of the total circulating supplies of the top 10 cryptocurrencies according to coin market cap’s official website, including Bitcoin’s data.
- Bitcoin – 19.08 million tokens in circulation
- Ethereum – 121.37 million tokens in circulation
- Tether – 66 billion tokens in circulation
- USD Coin – 55 billion tokens in circulation
- BNB – 163 million tokens in circulation
- Binance USD – 17 billion tokens in circulation
- Cardano – 33 million tokens in circulation
- XRP – 48 billion tokens in circulation
- Solana – 343 million tokens in circulation
- Dogecoin – 132 billion tokens in circulation
Dogecoin is the only meme coin to make the list of the world’s 10 largest cryptocurrencies.
The token has no maximum supply and 132 billion have been created to date.
Mining farms with the biggest Bitcoins in the world
Here are the world’s largest Bitcoin mining operations and their relative hash rates.
A hash rate measures how many times per second the Bitcoin network attempts or completes calculations using the proof-of-work algorithm.
- Located in Dalian, China, this mining farm – mines 700 Bitcoins per month at a 360,000 hash rate
- Located in Reykjavik, Iceland, Genesis Mining Farm has a 1,000 GH/s hash rate
- In Moscow, Russia, a mining farm hashes at a rate of 38 percent per hour
- A hash rate of 1.3 PH was achieved by GigaWatt, Washington, United States
Bitcoin’s Price History
Even though Bitcoin’s price has retraced by thousands of dollars over the previous few months, it is still a considerable distance from where it began.
In 2009, Bitcoin began trading at $0, meaning it had no worth at the time. This changed the next year when it began trading at $0.0008 midway through the year.
Here is the price history of Bitcoin from 2009 to the present:
- 2009 – $0 per token
- 2010 – $0.0008 per token
- 2011 – $1 per token
- 2012 – $30 per token
- 2013 – $1,100 per token. The price of crypto gold surpassed $1,000 for the first time in 2013 after beginning the year at $13 per unit.
- 2014 – $700 per token
- 2015 – $313 per token
- 2016 – $434 per token
- 2017 – $20,000 per token
- 2018 – $13,000 per token
- 2019 – $3,000 per token
- 2020 – $11,000 per token
- 2021 – $50,000 per token
- 2022 (current price) – $19,000 per token
Global Companies and their BTC Holdings
In recent years, the world’s largest corporations, such as MicroStrategy and Tesla, have accumulated BTC holdings.
Here are a few companies with big Bitcoin holdings in their portfolios.
- MicroStrategy – holds 129,000 BTC tokens
- Tesla – holds 48,000 BTC tokens
- Galaxy Digital Holdings – holds 16,400 BTC tokens
- Square Inc – holds 8,000 BTC tokens
- Marathon Patent Group – holds 4,800 BTC tokens
- Hut 8 Mining Corporation – holds 4,700 BTC tokens
- Coinbase – holds 4,400 BTC tokens
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Conclusion: How Many Bitcoins Are There In The World 2023
Since its introduction in 2009, when it altered the global monetary landscape, Bitcoin has experienced its own ups and downs.
Despite falling from grace this year, the token is still regarded as one of the most successful creations of the 21st century, having established an unregulated, decentralized platform in which there are no third-party actors.
Despite recent setbacks and restrictions imposed on the practice by some governments, Bitcoin mining continues and accelerates daily.
Concerns regarding its environmental impact continue to be significant, given that BTC mining consumes more electricity than a country like the Philippines.
We hope you enjoyed reading this article regarding the number of Bitcoins in circulation in 2022.
- https://www.sofi.com/learn/content/bitcoin-price-history/
- https://www.coingecko.com/en/public-companies-bitcoin
- https://coinmarketcap.com/currencies/ethereum/
- https://globelynews.com/world/world-top-bitcoin-crypto-mining-countries/
- https://www.dmarge.com/bitcoin-price-2010
- https://www.statista.com/statistics/247280/number-of-bitcoins-in-circulation/
- https://coinmarketcap.com/currencies/bitcoin/
- https://www.sunbirddcim.com/infographic/largest-bitcoin-mining-farms-world
