Bitcoin · The Block
When a miner launches a block, the protocol issues a block reward of newly minted bitcoin to that miner
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★ Tier-1 Source
The reward is the only source of newly created bitcoin in the entire system.
Key facts
- It dropped to 25 bitcoin in 2012, 12.5 in 2016, 6.25 in 2020, and 3.125 in 2024
- The next halving is expected around April 2028, when the block subsidy will fall from 3.125 bitcoin to 1.5625 bitcoin per block
- The 21 million limit was set by Satoshi Nakamoto, the pseudonymous creator of bitcoin, in the original software released in January 2009
- More than 95% of the total supply had been mined by early 2026
Summary
Bitcoin has a maximum supply of 21 million coins, a limit written into the network’s code by its creator, Satoshi Nakamoto. In this article, they'll explore the implications of this change, and what it will mean for bitcoin holders. Bitcoin has a 21 million supply limit because the rule was hard-coded into its software from the start, and that rule is enforced by every full node on the network. The number 21 million was not chosen arbitrarily either. At the genesis of bitcoin, mining a block gave a reward of 50 bitcoin per block. The 21 million limit was set by Satoshi Nakamoto, the pseudonymous creator of bitcoin, in the original software released in January 2009.