Last April 1, the network of the leading cryptocurrency Bitcoin reached a very important milestone. As of this date, 19 million of the 21 million Bitcoin tokens in existence have been mined.
19 million Bitcoins were mined
Recently, it was learned that there are only two million BTC left to be mined from the existing BTC reserve. As of April 1, the 19 millionth BTC has been mined, according to data from CoinGecko and CoinMarketCap. This means that less than two million new BTC could be added to the circulating supply. On the other hand, while the rate of giving new BTC to miners slows down over time, it is thought that the last Bitcoin token will be issued in 2140.
Also on April 1, Kraken, a cryptocurrency exchange with a daily trading volume of more than $1 billion, announced that it has integrated the Lightning Network. Lightning Network is known as a Bitcoin Layer 2 scaling solution alongside store of value features, making transactions faster and cheaper. Lightning Network functionality was reportedly available to Kraken users before the exchange officially made the announcement.
What are the highlights of the week for BTC?
Another important Bitcoin news of the week is that Silvergate lent $215 million to MacroStrategy to buy BTC. MacroStrategy is known as a subsidiary of MicroStrategy, which is famous for owning roughly 0.5 percent of all Bitcoin currently in existence. Also, BTC has experienced a slight bullish move this week, fueled in part by increased network activity. However, as Kriptokoin.com recently reported, the SEC rejected Ark Invest’s application for a Bitcoin spot exchange-traded fund.
The 19 millionth BTC was mined just days before the annual Bitcoin Miami panel kicks off next week. In this panel, which is a very important event for BTC, last year El Salvador President Nayib Bukele announced for the first time that he would send a bill to make Bitcoin accepted as a legal currency. While some speculate that the nation of Honduras might do the same, recent reports suggest this is highly unlikely.
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