When will the last Bitcoin be mined?Understand the time when the last Bitcoin will be mined, and how the halving mechanism, fixed supply, and Bitcoin's economic design shape its long-term scarcity, value, and future role.
Since its inception in 2009, Bitcoin has stood out among digital currencies primarily because of its constant and limited supply.
Its protocol has a built-in rule that permanently caps the total number of Bitcoins at 21 million.
Built-in Scarcity: The Halving Mechanism
The supply cap of Bitcoin stems from its design mechanism.
Unlike traditional currencies that can be infinitely expanded through increased issuance, Bitcoin follows a preset issuance schedule regulated by the "halving" process.
According to the protocol, approximately every 210,000 blocks mined (roughly every four years), the reward miners receive for validating a block is cut in half.
At the beginning of Bitcoin, miners could earn a reward of 50 BTC per block. This has since undergone multiple halvings: 25 BTC → 12.5
金色财经_·2025-12-05 10:57