The number of Bitcoin in circulation reached a significant milestone recently, the network now already accumulates more than 90% of the total mined supply.
Current data from the network show that Bitcoin in circulation has surpassed 18.9 million, meaning that less than 10% of the total stock is left to be mined. However, while mining the first 90% of the stock took about 12 years to be mined, the rest will take a lot longer.
According to the Cointelegraph, it will take 119 years from now to complete the Bitcoin mining process due to the rate of production of new Bitcoins being cut in half every four years, a process known as halving.
Since May 2020, miners started to receive 6.25 Bitcoin for each new block verified (occurs every 10 minutes), totaling 900/day. This rate will decrease to 3.125 BTC per block in the next half in 2024 (about 450 Bitcoins mined per day).