Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Michael Saylor, a Bitcoin evangelist who cofounded MicroStrategy and then turned it into a BTC treasury company, Strategy, has taken to his official X account to send an important Bitcoin reminder to the crypto community.
Michael Saylor's message to Bitcoin world
Unlike his regular tweets, where Michael Saylor publishes AI-generated images of himself with a Bitcoin-themed caption, this time, the Strategy cofounder’s message was about the Bitcoin supply.
It is limited to 21 million coins, and in the tweet, it is opposed to infinity. The word “infinity” has recently become associated with the Federal Reserve, the U.S. Treasury and the U.S. dollar (or fiat currencies in general). These two leading American institutions have been printing additional billions of dollars since 2020, when the pandemic suddenly came, to support the U.S. economy and banks and corporations in particular.
Day when last Bitcoin block will be mined
Bitcoin maximalists often point to Bitcoin’s hard-capped supply as BTC’s strongest virtue, which the U.S. dollar or any other fiat currency does not have.
By now, 19,908,015 Bitcoins out of 21,000,000 have already been mined. Every four years, a Bitcoin halving will take place, slashing block rewards by half. This means that the amount of Bitcoin withdrawn from the digital world into the physical world decreases by half every four years.
Now, there are 1,091,185 BTC left to be mined. Bitcoin historian and journalist Pete Rizzo has recently opined that the last Bitcoin block would be mined 79 years from now, on Aug. 17, 2104.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team