Satoshi Nakamoto: “The last bitcoin (BTC) will only be mined in 100 years”

Satoshi Nakamoto’s identity is still unknown. However, some people have claimed to be “Satoshi”, but no reliable source or government institution has confirmed the information. All that is known of him is that he wrote the source code for bitcoin (BTC) and the original cryptocurrency white paper in 2008. Thus was born the era of cryptocurrency. . Since then, new information has come to light. For example, we know that the last BTC will not be mined until 2140.

The last bitcoin (BTC) will be mined in 2140

9 years ago, the price of BTC was at its lowest level: $65.53. However, since 2013, its price has never gone down to this figure. Indeed, over time, cryptocurrency has attracted new investors which have become more and more numerous.

BTC is a scarce resource and the demand continues to grow. It is for this reason that the price of the asset has multiplied by millions from its initial value, currently standing at $41,339.24. So, for a person who invested in BTC in the beginning, he would have been rewarded with growth of 30,616.34%.

Analysts predict that by the early 2030s it will be possible to mine nearly 99% of total BTC. Also, they think that the last 1% will take nearly a century to be mined. But why will the remaining 1% take 100 years? In the bitcoin whitepaper, we read: “Satoshi Nakamoto scheduled the last bitcoin to be mined in 2140, which means they intentionally created something they would never see completed. They planted a tree for the next generation knowing they could never enjoy its shade, a truly selfless act.”

Why bitcoin (BTC) remains a store of value

About mining of BTC, Satoshi’s document reveals that miner rewards are halved on average every 4 years. Thus, in 2024, a further reduction in rewards will be realized. As a result, each block will only have 3.12 BTC of compensation. This is why the remaining 10% of BTC will take much longer than the first 90% to be mined. It will take about 100 years according to experts.

Satoshi Nakamoto has set a limit for BTC to keep it a scarce asset. In fact, it will become rarer over time. It is precisely for this reason that cryptocurrency is already considered a store of value for the future.

Bitcoin (BTC) is a cryptocurrency that was born in 2013. Since its launch, it has steadily grown in price to become the king of cryptocurrencies and a store of value for the future. According to Satoshi, its creator, it will take 100 years to completely exhaust the stock.

Source: The Basic Crypto

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Behind the generic signature “TCT Writing” are young journalists and authors with specific profiles who wish to remain anonymous because they are involved in the ecosystem with certain obligations.

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