19 millionth bitcoin was mined this week, and now miners have still to extract less than two million coins, according to the ProFinance portal. The network of the main cryptocurrency will operate on a fixed mining schedule until it reaches the limit of 21 million coins, after that the appearance of new bitcoins becoms impossible, experts say.
The fact that this week 19 millionth bitcoin was mined, means nothing at all, therefore, it does not affect the value of the main cryptocurrency, BitRiver’s financial analyst Vladislav Antonov explained to Invest-Foresight.
“Bitcoin is a risky asset and it is extremely volatile a priori. Since 2020, facing a large-scale coronavirus pandemic, it has been affected by dynamics of American stock indices (S&P 500 and Nasdaq) – they have got a close correlation,” the specialist explains.
However, other experts believe that the approach to the emission limit stimulates the growth of bitcoin.
As the founder of the service Koshelyok.ru Mikhail Bogdanov explained to Invest-Foresight, this is not such a significant event as, for example, halving (decreasing twice the amount of remuneration to miners for adding a new block), when it becomes clear immediately that the number of new bitcoins is decreasing sharply.
“But all these events say the same: approaching the emission limit and reduction in the number of coins for extraction stimulates the growth of bitcoin value,” the expert emphasizes.