PakGazette – The cryptocurrency market may be in crisis, but today offers a reason to pause and reflect. It’s been exactly 16 years since Satoshi Nakamoto, the enigmatic creator of Bitcoin, revealed what is arguably its most defining feature: the 21 million BTC supply cap.
This moment in 2009 introduced the world to a system that would forever change the perception of money. Nakamoto detailed a methodical and finite issuance process, ensuring that the total supply of Bitcoin never exceeds 21 million.
The coins will be distributed to network participants as rewards for validating transactions, with issuance halving every four years. This carefully planned progression (10.5 million coins in the first four years, halving to 5.25 million in the next, and so on) was designed to gradually decline until the last one was mined sometime around 2140. .
Back then, Bitcoin was priceless. It existed only as an idea, a digital experiment discussed among a small group of enthusiasts.
Fast forward to today, and the concept has evolved into a global asset valued at nearly $2 trillion. Among Bitcoin’s most compelling features is this same unchanging, immutable supply limit, which makes it an outlier in a world of unlimited fiat currency printing.
However, the theoretical supply and the actual circulating quantity diverge. Satoshi Nakamoto, who disappeared years ago, is believed to have mined around a million Bitcoin in the early days. These coins have never been moved and are considered lost to time.
Similarly, many other ancient coins remain inaccessible in forgotten wallets or due to lost keys. While the ledger records approximately 19.8 million BTC in circulation today, the functional supply is almost certainly lower.
