Bitcoin Hits 95% Mined Milestone: Over 19.9 Million BTC in Circulation
The 95% Mark: Bitcoin’s Supply Journey in November 2025
Bitcoin has reached a pivotal milestone: 95% of its total supply has now been mined, with 19.9 million out of 21 million BTC in circulation as of November 2025. This means just 1.1 million coins remain to be created, underscoring the network’s programmed scarcity. For newcomers, Bitcoin’s cap at 21 million is hardcoded – no inflation, no dilution. As mining rewards halve every four years (next in 2028), daily issuance drops to 225 BTC. Satoshi Nakamoto designed this to mimic gold’s rarity, but with digital precision. With over 94% already circulating by early 2025, this 95% threshold, projected for November, amplifies Bitcoin’s deflationary narrative amid $1.03T market cap.
From Genesis to 95%: A 16-Year Sprint to Scarcity
Bitcoin’s supply issuance started strong: 50 BTC per block in 2009. Now, it’s 3.125 BTC post-2024 halving. As of October 2025, 19.9 million BTC exist, leaving 1.1 million, mined gradually until 2140. Lost coins (estimated 3-4 million from forgotten wallets) shrink effective supply to ~16-17 million. Institutional hoarding, BlackRock’s ETFs hold 500K+ BTC, tightens it further. As Incrementum data shows, 95% mined by November 2025 reinforces scarcity, with halvings ensuring slower growth. This isn’t hype; it’s math, every block etched forever.
Why 95% Matters: Price Pressure and Miner Shifts
Scarcity drives value. With 95% mined, new supply trickles: 144 blocks daily yield ~450 BTC now, halving to 225 in 2028. Miners pivot to fees, securing the network amid 700 EH/s hash rate. As CCN notes, 97.7% mined by 2028 issuance falls sharply. For holders, reduced sell pressure from new coins boosts upside, BTC at $103K, up 1.31% daily. Institutions like MicroStrategy (252K BTC) amplify this. Lost coins make circulating supply scarcer, echoing gold’s 20% “lost” bars.
The Road to 100%: Halvings, Fees, and Finality in 2140
Bitcoin’s endgame? 99% by 2035, full supply by 2140, but fees sustain miners. Post-95%, halvings (2028, 2032) slash issuance, shifting to transaction economics. As Stopsaving.com charts, 95% mined signals long-term hold strength. In hyperinflation zones like Venezuela, BTC’s fixed supply is a hedge. Platforms like Lumexo offer low-fee trades.
Bitcoin’s Deflationary Dawn: 95% Mined, Infinite Potential
In short, 95% mined cements Bitcoin’s scarcity. 1.1M left? A whisper. As halvings bite, value accrues. Satoshi’s vision endures.