When all bitcoin have been mined, miner revenue will depend entirely on transaction fees. The price and purchasing power of bitcoin will adjust to the lack of new supply. The scarcity of Bitcoin will make it more attractive to investors and users.
Once the Bitcoin network's supply runs out, miners will still be incentivized to support it. Miners already get paid in transaction fees and Bitcoins. Transaction fees comprise only about 6% of a miner's income. Transaction fee returns are expected to increase exponentially before Bitcoin's supply limit is reached.
Their confidence in Bitcoin is so strong that analysts at Ark Invest released a report claiming that its price could be worth more than $1 million by 2030. But for Bitcoin to get to that level, it would need to increase by more than 4,000% in just seven years.
Why Is There a Supply Limit for Bitcoin? Bitcoin's pseudonymous founder, Satoshi Nakamoto, determined in 2008 that the total Bitcoin supply cap would always be pegged at 21 million, ensuring a virtual currency without inflation.
All countries have banned Bitcoin, and its price is now zero. Even with the network in place, this would be disastrous for many people. Many people depend on Bitcoin in some way or the other for their survival. The owners of Bitcoin will not be able to sell their holdings, and their investments will be gone.
If you lose money in crypto, you will have to sell your assets to cover your losses. If crypto goes negative, you will still have to sell your assets to cover your losses.
Theoretically, this would make it impossible to transfer Bitcoin and would prevent underground trading, likely rendering Bitcoin worthless—but this would be nearly impossible to accomplish. The decentralization and global spread of network nodes is the entire value proposition of the Bitcoin blockchain.
The largest holder of Bitcoin is believed to be Satoshi Nakamoto, the pseudonymous founder of Bitcoin. Nakamoto is estimated to own approximately 1,000,000 BTC, worth around $27.13 billion.
Tesla announced Monday it has bought $1.5 billion worth of bitcoin. In a filing with the Securities and Exchange Commission, the company said it bought the bitcoin for “more flexibility to further diversify and maximize returns on our cash.”
There are roughly 24,233 wallets worth more than $1 million among people who are unquestionably Bitcoin millionaires. Given that the price of Bitcoin has dropped to less than one-third of its maximum value, it is safe to assume that at least 100,000 people were millionaires prior to the 2021 bear market.
Bitcoin BTC/USD price history up until Jul 27, 2023
Bitcoin (BTC) price again reached an all-time high in 2021, as values exceeded over 65,000 USD in November 2021.
How much will Bitcoin be worth in 10 years? If you invest in Bitcoin today, as with any investment, a long term increase is expected. The price of BTC could possibly rise to $371,388.74 within the next 10 years.
After all bitcoins are mined, miners will no longer receive block rewards for verifying transactions, but will instead earn transaction fees. It's estimated that all bitcoins will be mined by the year 2140, at which point the last block reward will be released.
Will Bitcoin function like pocket change or bars of gold in the year 2140? The Bitcoin ecosystem is still developing, making it possible that Bitcoin itself will continue to evolve over the coming decades. But however Bitcoin evolves, no new bitcoins will be released after the 21-million coin limit is reached.
Ethereum, however, has an infinite supply. In January 2021, there were 113.5 million tokens in circulation. As of April 2022, there are roughly 120 million. There are some predictions that after shifting the Ethereum process from PoW to PoS, the supply of Ethereum may be reduced.
TES Price Live Data
The live price of TeslaCoin is $ 0.002359 per (TES / USD) with a current market cap of $ 186,714.16 USD.
Bitcoin is neither issued nor regulated by a central government and therefore is not subject to governmental monetary policies. Bitcoin's price is primarily affected by its supply, the market's demand for it, availability, competing cryptocurrencies, and investor sentiment.
The receiver of the first bitcoin transaction was Hal Finney, who had created the first reusable Proof-of-work system system (RPoW) in 2004. Finney downloaded the bitcoin software on its release date, and on 12 January 2009 received ten bitcoins from Nakamoto.
However, some estimates can be made based on blockchain data and surveys of Bitcoin holders. According to data from Bitinfocharts, as of March 2023, there are approximately 827,000 addresses that hold 1 bitcoin or more, representing around 4.5% of all addresses on the Bitcoin network.
Simple math shows that the average bitcoin holding per person is about 262,500 satoshis. At $69,000 per bitcoin, that works out to an investment of about $180 to reach the global average bitcoin allocation. So don't be discouraged by the price of a single bitcoin.
Cryptocurrency Is Extremely Volatile
Bitcoin is by far the most popular form of cryptocurrency, and it's had huge ups and downs over the years. Talk about a volatile investment! In November 2021, one coin was trading at nearly $68,000. But now in August 2022, the price has dropped to a “mere” $21,000.
Bitcoin Could Drop to $10K-$12K by Q1 2023, VanEck Says
Bitcoin (BTC), however, could remain under pressure because several miners are likely to go bust, overshadowing improving macroeconomic conditions, according to investment giant VanEck.
Crypto winter is finally over and bitcoin (BTC), the world's largest cryptocurrency, has the potential to reach $100,000 by the end of 2024, according to a research report by Standard Chartered Bank.