Summary:
Michael Saylor predicts 99% of Bitcoin will be mined by January 2, 2035.
Currently, 19,760,384 BTC has been mined, leaving 1,239,588 BTC to be mined.
Saylor's prediction indicates an acceleration in Bitcoin mining activities over the next decade.
If accurate, Bitcoin's scarcity could drive prices higher as demand increases.
Bitcoin reached a high of $66,550, marking a significant increase in September.
Michael Saylor, co-founder and chairman of MicroStrategy, has once again made headlines in the cryptocurrency world with a striking prediction regarding Bitcoin. In a recent tweet, he stated that "99% of Bitcoin will be mined by January 2, 2035."
Currently, 19,760,384 BTC has been mined, which is 94.10% of the total maximum supply of 21 million BTC. This leaves approximately 1,239,588 BTC yet to be mined. Saylor's forecast suggests an acceleration in mining activities, indicating that nearly 5% more of Bitcoin's maximum supply will be mined in the next decade.
If this prediction comes true, it could lead to 99% of Bitcoin's total supply being in circulation much earlier than anticipated. Historically, market analysts believe the last Bitcoin will be generated by 2140. This scarcity of Bitcoin could significantly impact its market dynamics, potentially driving prices higher as demand outstrips supply. As more Bitcoin is mined, the economic landscape for miners may shift, as the rewards for mining new blocks will decrease.
Bitcoin Price Action
Recently, Bitcoin reached a high of $66,550 in Friday's trading session, marking its highest level since early August. After peaking early Sunday at $65,988, it settled at $65,636, reflecting a 0.09% increase over the past 24 hours.
September has been a promising month for Bitcoin, with prices up more than 11.31% compared to an average 5.9% loss seen in previous Septembers over the last decade. Analyst Ali Martinez suggests that if Bitcoin ends September positively, the final quarter could witness even more significant gains.
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