How many Bitcoins are there?

The question “How many Bitcoins are there?” may seem simple, but the answer explains what makes Bitcoin truly unique. Unlike traditional currencies, which central banks can print without limit, Bitcoin has a fixed maximum supply of 21 million coins.


This limit is hard-coded into the protocol and ensures that Bitcoin becomes scarcer over time. In this guide, we explain how many Bitcoins currently exist, how many are still left to be mined, and why some coins are permanently lost.

In short

• The maximum number of Bitcoins is 21 million.

• In 2025, approximately 19.9 million Bitcoins are in circulation.

• Millions of Bitcoins have been permanently lost.

• The final Bitcoin is expected to be mined around the year 2140.

Total number of Bitcoins

• Maximum supply: 21,000,000 BTC

• In circulation (2025): approximately 19.9 million BTC

• Still to be mined: about 1.1 million BTC

• Lost Bitcoins: estimated 3 to 4 million BTC

Although Bitcoin was launched in 2009, most of its supply has only entered circulation gradually over time. Roughly every ten minutes, miners add a new block to the blockchain and receive a Bitcoin reward.


This reward decreases over time due to the Bitcoin halving mechanism.

Why are there only 21 million Bitcoins?

The fixed supply of 21 million Bitcoins is no coincidence. Bitcoin‘s anonymous creator, Satoshi Nakamoto, wanted to design a form of digital money that could not be inflated or manipulated by a central authority.


This hard cap creates scarcity similar to precious metals like gold. While traditional currencies can lose value through inflation, Bitcoin‘s total supply remains unchanged.


The 21 million limit is enforced by software run by thousands of nodes worldwide. No single participant can change this rule without consensus from the entire network.

Bitcoin mining

How new Bitcoins are created

New Bitcoins enter circulation through a process called mining. Miners use powerful computers to validate transactions and add new blocks to the blockchain.


Each time a block is added, miners receive a block reward paid in newly created Bitcoins. This is the only way new Bitcoins are issued.


In 2009, the reward was 50 BTC per block. After multiple halvings, it was reduced to 3.125 BTC per block following the 2024 halving.

Bitcoin halving

Bitcoin issuance halves every four years

A Bitcoin halving occurs approximately every four years, or every 210,000 blocks. During a halving, the block reward is cut in half.


This mechanism gradually reduces Bitcoin‘s inflation rate until it eventually reaches zero.

• 2012: reward reduced from 50 to 25 BTC

• 2016: reward reduced from 25 to 12.5 BTC

• 2020: reward reduced from 12.5 to 6.25 BTC

• 2024: reward reduced from 6.25 to 3.125 BTC

The next halving is expected in 2028.

Effect of halving on supply

Each halving reduces the number of new Bitcoins entering the market, making Bitcoin increasingly scarce. More importantly, the supply schedule is fully transparent and predictable.

How many Bitcoins are left to be mined?

Of the 21 million Bitcoins that will ever exist, more than 19.9 million had already been mined by 2025. This means fewer than 1.1 million Bitcoins remain.


Because block rewards keep shrinking, it will take more than a century before the final Bitcoins are mined—around the year 2140.


Even after block rewards reach zero, miners will continue to earn transaction fees paid by network users.

How many Bitcoins are in circulation?

“In circulation” refers to all Bitcoins that have been mined and are theoretically accessible.


According to blockchain data, about 94% of all Bitcoins have already been mined. However, the effective circulating supply is lower due to lost coins.

Millions of Bitcoins are lost

How do Bitcoins get lost?

• Lost private keys

• Forgotten wallets on old devices

• Irrecoverable transaction mistakes

How many Bitcoins are lost?

Blockchain analysts estimate that between 3 and 4 million Bitcoins are permanently lost—nearly 20% of the total supply.


This means the effective supply of Bitcoin is likely closer to 17 million BTC.

Satoshi Nakamoto‘s Bitcoins

How many Bitcoins does Satoshi Nakamoto own?

Bitcoin‘s creator, Satoshi Nakamoto, is estimated to have mined around 1 million BTC during Bitcoin‘s early days, spread across thousands of addresses.

Why these Bitcoins are unlikely to ever move

No coins from Satoshi‘s known addresses have moved since 2010. Many analysts believe these Bitcoins are permanently inactive, effectively reducing the available supply even further.

How scarce is Bitcoin?

Bitcoin is the first digital asset with absolute scarcity. Once the 21 million limit is reached, no new Bitcoins will ever be created.

• Gold supply: grows by approximately 1.5–2% per year

• Bitcoin supply: growth slows over time and stops completely around 2140

This mathematically enforced scarcity makes Bitcoin unique as a form of digital money without central control.

Frequently asked questions

How long does it take to mine 1 Bitcoin?

This depends on a miner‘s computing power and network difficulty. On average, one block is mined every ten minutes, with a reward of 3.125 BTC shared among miners.

Who owns the most Bitcoins?

Satoshi Nakamoto is believed to hold the largest amount, followed by major exchanges that custody Bitcoin on behalf of users.

Will all Bitcoins ever be in circulation?

In theory, yes. However, due to permanently lost coins, the number of usable Bitcoins will always be lower than 21 million.

Please be aware Yield Services are currently not covered by the Markets in Crypto-Assets Regulation (MiCAR) or any other sectoral EU legislation. This means the service does not offer the same safeguards as MiCAR-regulated services that Coinmerce offers.