How many Bitcoins are there? Can it run out?

Bitcoin is often hailed for its scarcity—one of its core features that sets it apart from traditional currencies. But how many Bitcoins exist, and could they ever run out? Let’s explore these questions in detail.

The Total Supply of Bitcoin: 21 Million

Bitcoin has a fixed maximum supply of 21 million coins. This means that there will never be more than 21 million Bitcoins in existence, and this limited supply is one of the factors that drive its value.

Why 21 Million?

The total supply of Bitcoin was designed by its creator, Satoshi Nakamoto, to mimic precious metals like gold, which have a limited supply and are considered valuable. By capping Bitcoin’s supply at 21 million, Nakamoto ensured that Bitcoin would be a deflationary asset—the opposite of traditional currencies, which can be printed at will by central banks.

Current Circulating Supply and Mining

As of 2025, around 19 million Bitcoins have already been mined, leaving just 2 million to be mined in the future. The process of mining Bitcoin involves verifying transactions and adding them to the blockchain, with miners being rewarded with newly created coins.

• Bitcoin Halving: Approximately every four years, the reward for mining Bitcoin is halved in an event called the Bitcoin halving. This event reduces the number of new Bitcoins released into circulation, further limiting the supply and increasing the scarcity of Bitcoin over time.

For example:

• In the early days of Bitcoin, miners were rewarded with 50 BTC for solving a block.
• After the first halving in 2012, the reward dropped to 25 BTC.
• Following the third halving in 2020, the reward is now 6.25 BTC.
• The next halving, expected in 2024, will reduce the reward to 3.125 BTC per block.

Can Bitcoin Run Out?

While Bitcoin’s supply is capped at 21 million, it is important to understand that not all of the 21 million coins will be usable at once. Here’s why:

1. Lost Bitcoins

It is estimated that a significant number of Bitcoin have already been lost forever. This happens due to:

• People losing access to their private keys (the password-like code required to access their Bitcoin).
• Accidental destruction of hardware wallets.
• Early Bitcoin holders who may have forgotten or misplaced their coins.

Some estimates suggest that up to 4 million Bitcoins could be permanently lost, meaning that only around 17 million to 18 million Bitcoins are truly available for circulation. This loss contributes to the scarcity of Bitcoin, making it even more valuable.

2. Satoshis: The Smallest Unit of Bitcoin

While the 21 million Bitcoin cap applies to the total number of full Bitcoins, Bitcoin can be divided into smaller units called Satoshis, named after Bitcoin's creator, Satoshi Nakamoto.

• 1 Bitcoin = 100 million Satoshis
• This means that while the total supply of Bitcoin is capped at 21 million, the smallest unit, Satoshi, ensures that Bitcoin remains highly divisible.

Even if all 21 million Bitcoins are mined, Bitcoin will still be highly divisible and can be used for microtransactions, allowing for a virtually unlimited number of small transactions.

Will Bitcoin’s Supply Ever Run Out?

In theory, Bitcoin will never “run out” because:

• The 21 million cap is hardcoded into Bitcoin’s protocol, and it’s incredibly unlikely to change. In fact, any attempt to change this would require a consensus from the entire Bitcoin network, which is highly resistant to modification.
• Satoshis allow Bitcoin to remain highly divisible, meaning small fractions can be used for everyday transactions even as the total supply approaches 21 million.

However, because of the halving events and the gradual decrease in mining rewards, new Bitcoin creation will slow down until the final Bitcoin is mined, which is expected to happen around the year 2140.

Conclusion: Will Bitcoin Run Out?

No, Bitcoin will not "run out" in the traditional sense. The total supply will always be capped at 21 million, but the coins can be divided into smaller units (Satoshis) to allow for continued transactions. Additionally, the concept of lost Bitcoins means that fewer coins are available than the full 21 million, adding to its scarcity and potential value.

As time goes on, Bitcoin’s deflationary nature, limited supply, and increased demand could make it a valuable asset for investors, while its divisibility ensures it remains practical for everyday use, even when all 21 million are mined.

If you're looking to invest or learn more about how to buy Bitcoin, consider platforms like Spendo.com for a secure and easy way to get started.

‍