Bitcoin officially has 80 percent of its 21 million coins mined

Bitcoin has surpassed another momentous milestone, with 80 percent of all the available cryptocurrency having been mined so far.

Around 16.8 million Bitcoin have been mined thus far, comprising 80 percent of the 21 million Bitcoin made available by the cryptocurrency’s creator Satoshi Nakamoto, according to Bitcoin tracker Blockchain.info.

Bitcoin proponents argue that because Bitcoin’s supply is finite, its value will continue to increase as scarcity prompts investors to “hodl” (hold in crypto-speak) the cryptocurrency.

Thanks to difficult mathematical algorithms, and dwindling financial returns, the remaining 4.2 million Bitcoin will become ever-increasingly tough for miners to harvest.

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Source: Bitcoin officially has 80 percent of its 21 million coins mined – Nine Finance