Bitcoin Scarcity Projected: 99% Mining Milestone Approaches

With a major milestone on the horizon, BTC is set to become one of the rarest assets in the world. With 99% of its total supply expected to be mined by 2036, this upcoming Bitcoin scarcity is likely to transform the crypto landscape, leading to increased demand and potentially pushing prices to unforeseen levels.

Bitcoin Scarcity: No New Coin Issuance After 2036

Drawing insights from the BTC halving schedule, analyst CryptoRus highlighted the potential Bitcoin scarcity in an X post. The schedule indicates that a major 99% of the total BTC supply will be mined by 2036, leaving only 1% to be mined over the next century. This limit will intensify the Bitcoin scarcity.

Currently, about 20,343,750 cryptos, or roug hly 94% of the total available coins, have been mined. This means more than 1 million coins remain available. However, by 2036, that number will drop significantly, as 99% of the total coins are expected to be produced, leaving a minimal number of new BTCs to be produced.

As the remaining 1% of the supply becomes harder to find, its rarity is likely to drive prices up as demand exceeds supply. This shift will also impact the mining industry, requiring miners to adjust to smaller rewards. After this point, people can only acquire the crypto through market purchases, cementing its status as one of the world’s rarest assets.

Michael Saylor’s Prediction Turns True

Earlier this year, Michael Saylor from MicroStrategy made a bold prediction that “9% of Bitcoin to be mined” by 2035. Saylor thinks that the next decade might see a large surge in mining, possibly adding nearly 5% of the total supply to circulation.

If he's right, this would speed up the distribution of most of Bitcoin's supply, challenging earlier forecasts that estimated the last BTC would be mined around 2140.

Bitwise’s 2035 Price Prediction

In a parallel development, asset manager Bitwise predicted that the BTC price could soar to an ambitious $1.3 million by 2035. The investment firm bases its estimate on the increasing institutional demand and Bitcoin scarcity.

According to Bitwise's "Long-Term Capital Market Assumptions" report, the pioneer crypto is expected to achieve a compound annual growth rate (CAGR) of 28.3% over the next decade. This significantly outperforms traditional assets like stocks, bonds, and gold.

The report outlines three potential scenarios: a base case forecasting the BTC price will reach $1.3 million by 2035, a bullish case expecting $2.97 million, and a bearish case estimating a value of $88,005. The significant difference between these predictions underscores the ongoing volatility in the crypto market, despite rising institutional investments.