Bitcoin Hits 95% Mined — About 2 Million Coins Left
Bitcoin has reached the milestone of roughly 95% of its 21 million-cap supply mined, leaving a little more than 2 million BTC yet to be minted as of mid-November 2025. That remaining issuance will be distributed slowly through future block rewards after successive halving events, with the final bitcoin expected to appear around 2140. Reaching 95% underscores the protocol’s capped monetary policy and the steady deceleration of new supply entering the market.
The practical implications are material: miners will increasingly depend on transaction fees rather than block subsidies, reshaping revenue models and potentially accelerating consolidation among higher-efficiency operations. For investors and market participants, the milestone reinforces Bitcoin’s scarcity narrative but also shifts attention to fee-market dynamics, on-chain demand, and network security tied to miner economics. Watch for tighter supply dynamics to interact with institutional flows, custody demand, and layer-2 usage — factors that could influence price discovery and infrastructure investment going forward.