I saw news that Bitcoin has just surpassed the 20 million coin limit. Currently, there are about 20.02 million BTC in circulation. This is only a growth story for the market because it means that 95% of the maximum supply of 21 million coins is already in circulation.

What’s interesting is that there are still only 1 million coins left to be mined, but it will take about 114 years to complete. Why is it so slow? Because of the design of the Bitcoin protocol itself. Satoshi Nakamoto intended for the supply to gradually decrease through the halving mechanism, which cuts the mining reward in half approximately every 4 years.

Right now, about 450 BTC are mined per day. The inflation rate is less than 1%. According to calculations, 99% of the total supply will be reached by January 2035, leaving only a small fraction to be mined until around 2140.

For the fractional supply that will occur in the long term, it completely changes the game for miners. When the mining rewards become insignificant, they will have to rely on transaction fees instead. This is a major shift in the network’s security.

This unchangeable Bitcoin supply is its main strength. Unlike typical commodities, a higher price does not mean more Bitcoin is entering the market. This design provides confidence that the supply is predictable and cannot be altered.

For Bitcoin holders, this reaffirms its scarcity story. As the mining reward gradually decreases and approaches zero, Bitcoin’s scarcity will become fully real—not just theoretical. This is what makes Bitcoin different from fiat money, which central banks can expand at will.