The 19 millionth Bitcoin was recently mined, marking an important milestone for the world’s most popular cryptocurrency. Just 2 million Bitcoin will be mined (or minted) until roughly the year 2140. Currently, 19 million Bitcoins are in circulation.
The 19 millionth Bitcoin was mined by SBI Crypto in block 730002. The transaction fees and block reward amounted to about $293,000 for SBI Crypto. The Bitcoin community greeted it as a momentous occasion.
Bitcoin’s scarcity is highlighted by the 19 millionth bitcoin mined for the Bitcoin community.
Read: Exxon Mobil to run pilot Bitcoin mining operation in Nigeria
Price actions
- Bitcoin price took a beating recently, despite staying relatively strong. The bulls appear to be trying to regain control, though they were unsuccessful in their attempt at $47K earlier today.
- Despite attempts to recover, Bitcoin’s price is still below its 200-day moving average. The bullish or bearish status of an asset can be determined via this level.
- Over the past few weeks, Bitcoin has been rallying, and it even broke through the major resistance zone of $45K
Read: Bitcoin miners are super-rich, earn $1,000,000 per hour
Macros
- Over the past several months, the predominant sentiment in international affairs has been one of “uncertainty,” which contributes to the volatility of the crypto markets and has triggered a number of investors and traders to key on the flagship crypto.
- Several unstable Bitcoin phases have occurred in the last two years triggered by global pandemics, inflation-related fears, and a geopolitical confrontation.
- The only nation at present in which Bitcoin is legal tender is El Salvador, which issues Bitcoin-backed “Volcano Bonds” as a way to raise cash. The adoption of Bitcoin in other countries, such as Brazil, was promising in 2021.
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