Bitcoin

Investment Firm Leader Reveals That the 18 Millionth Bitcoin Will Be Mined on Friday

Taking pride in being the face of the cryptocurrency arena, the Bitcoin network is likely to initiate the mining of the 18 millionth BTC on Friday, i.e., October 18, 2019, as was stated by Anthony Pompliano in his tweet on October 15. Anthony is the well-known co-founder of leading investment enterprise, Morgan Creek Digital Assets.

In his crucial tweet, Anthony stated that at present, there are only three million BTC left to be mined in the future. The spearhead, through his social media, handle tried to create a buzz about the world’s first cryptocurrency, Bitcoin. He tried to raise awareness about the digital coin to induce more and more people into the world of Bitcoin.

Pompliano’s inclination towards Bitcoin is not something unusual or unexpected for the financial world, and the blockchain enthusiasts spread all across the globe. Earlier in August, the curator of Morgan Creek Digital Assets firm revealed on CNBC’s Squawk Box that more than half the portion of his net worth is in Bitcoin. With such a major stake on Bitcoin, Pompliano’s tweet indeed shows his interest in the promotion of the initiative.

The leader’s strategic tweet has indicated the actual figures of Bitcoin (BTC.) At present, 17,997,150 BTC coins have been mined, as is revealed by the Bitcoin data website- BitcoinBlockHalf. Interestingly, the maximum limit for the volume of the BTC coins that could be mined in the system is 21 million. With a fall in the volume of BTC coins remaining to be earned by the people via securing the Bitcoin blockchain, the BTC’s halving also fast approaches, and this will lead to the amount of Bitcoin created with each new block decreased to half the original value.

As per the data released by BitcoinBlockHalf, on May 14, 2020 (tentatively), the Bitcoin block reward will be slashed to 6.25 coins from 12.5 coins, in response to the irregularity of BTC’s block time. The website also stated that 85.7% coins of the whole BTC bunch have already been mined up until now.

With a decrease in the volume of the coins left to be mined, there is expected to surface stiff competition in the crypto niche amongst the investors in their attempt to get hold of the remaining BTC coins.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.
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