Key Points
- Bitcoin’s remaining unmined supply is less than 1.19 million BTC.
- Several governments are considering establishing Bitcoin reserves.
The year 2024 has seen significant developments for Bitcoin, including record-breaking prices and governments considering Bitcoin reserves. However, less than 1.19 million BTC remains to be mined.
Bitcoin’s Remaining Supply
The remaining supply of unmined Bitcoin is dwindling as global interest in adopting Bitcoin on a broader scale increases. Clark Moody’s data shows that as of December 26, only 1,198,640.60 BTC remained unmined. Additionally, 94.29% of Bitcoins have been issued, and 220.32 BTC are invalid for payments.
Bitcoin mining has been banned in eight countries, such as Venezuela, China, and Russia, due to energy concerns. In countries where mining is permitted, high energy tariffs have increased the cost.
Bitcoin’s Market Performance
Bitcoin’s circulating supply is 19.8 million BTC, with a maximum supply of 21 million BTC. The cryptocurrency’s market cap is nearly $1,890 trillion, making it the digital currency with the largest market cap. Bitcoin’s price has decreased by 3.4% in the past 24 hours, trading at $95,280 at the time of writing.
Bitcoin also has a fully diluted valuation of $2,004 trillion and a 24-hour trading volume of $41 billion. On December 17, Bitcoin’s price reached a record high of $108,280, crossing the $100,000 threshold for the first time on December 5. This surge was driven by Donald Trump’s victory in the U.S. Presidential Election.
Government Interest in Bitcoin
Trump has repeatedly expressed his intention to make the U.S. a global crypto hub, with plans to create a crypto council and a national Bitcoin reserve. He discussed plans for a U.S. Strategic Bitcoin Reserve with Crypto.com CEO Kris Marszalek on December 16.
Michael Saylor, CEO of MicroStrategy, the world’s largest corporate Bitcoin holder, proposed a Bitcoin reserve that could generate $16 trillion to $81 trillion for the U.S. Treasury on December 21.
Similar initiatives are being considered in other regions. In the EU, Parliament Member Sarah Knafo encouraged the EU to invest in Bitcoin by establishing national strategic Bitcoin reserves. A Russian state deputy also suggested creating a Bitcoin strategic reserve. Earlier, Brazilian lawmakers proposed a bill to limit Brazil’s reserves to $18.5 billion worth of BTC.
