There are 21 million possible bitcoins that would come into circulation. However, it is common knowledge that not all those coins would circulate even when they get mined.
This is because some of them have been lost and others have owners that no longer have access to the private keys that would access them.
For instance, the one million bitcoins owned by Satoshi Nakamoto has been sitting in his wallet for years and no one still has an inkling on who the inventor is.
Recently, the 18 millionth bitcoin was mined and people have been speculating what the effect of mining all 21 million coins would be.
What is obvious is that the mining difficulty of Bitcoin has increased so the remaining 3 million would be harder to find. This is how the coin was programmed to be mined.
Glassnode, the on-chain market intelligence company gave an insight into a number of other 18 million milestones associated with Bitcoin on its Twitter page. According to the company’s update, it took 3935 days to mine 18 million bitcoins.
Prior to this, the company has hit 18 million on-net transactions, hit market cap of $18 million trading volume of the same value and much more.
The records show that these are the 18 million milestones of bitcoin according to the release
- 654 days to reach 18 million BTC on-chain volume
- 828 days to reach $18 million USD volume
- Hitting $18 million in market cap took 841 days
- 880 days to reach $18 million USD on-chain volume in one day
- 1336 days to hit 18 million on-chain volume in Bitcoin in one day
- 1370 days to formulate 18 million transaction outputs
- 1409 days to spend that same number of outputs
- 1589 days to hit 18 million on-chain transactions
- 1710 days to hit 18 million network addresses
- 2880 days for the network to pay $18 million in mining fees
- 3094 days to hit 18 million addresses holding a positive balance
This was capped of course by the 3935 days to mine 18 million bitcoins.