How Many Bitcoins Are There in 2020? [All You Need To Know]
Bitcoin is the first-ever cryptocurrency created in the world. The first Bitcoin was mined in 2009. Ever since it’s been a bumpy ride.
An increasing number of enterprises are accepting Bitcoin as a means of payment daily. The world has felt its power, seen its advantage, and millions have accepted its usage.
So here’s an interesting question – how many Bitcoins are there?
In this article, you will be introduced to some of the most astonishing Bitcoin statistics. They will shed light on the number of Bitcoins in circulation, and how the Bitcoin network is growing.
Fascinating Bitcoin Statistics
Before we move on, let us introduce you to some mind-blowing Bitcoin stats!
- Currently, the total number of Bitcoins in existence has exceeded 18.3 million.
- Approximately 4 million Bitcoins are lost forever.
- The total number of Bitcoins that will ever be produced stands at 21 million.
- Only 13 million Bitcoins are in circulation or stashed away in wallets.
- The last Bitcoin will be mined by 2140.
- The Bitcoin market cap as of Q1 2020 stands at $117.81 billion.
- An average of 350,000 transactions take place on the Bitcoin network daily.
Now let us take you a step further towards more in-depth statistics on various areas of the Bitcoin ecosystem.
General Bitcoin Stats
We’ve gathered some Bitcoin stats to help you understand how many Bitcoins there are in the marketplace.
1. The mining of the first Bitcoin block occurred on January 3, 2009.
(Source: Block Explorer)
Invented in 2008 by Satoshi Nakamoto, the first Bitcoin mining did not happen until early 2009. This was when the source code of the Bitcoin software got released to the public as open-source.
2. The first Bitcoin transaction occurred on January 12, 2009.
Hal Finney, a programmer at the time received the first Bitcoin transaction from Satoshi after he downloaded the Bitcoin software on the very day that it was released.
3. The average time it takes to confirm a Bitcoin transaction is a little over 10 minutes.
According to Bitcoin mining stats, most Bitcoin transactions are confirmed within 10 minutes. Of course, depending on the computing capacity of the miner, it might take more or less time.
4. The price of Bitcoin reached its highest high of $19,343 in December 2017.
According to statistics about Bitcoin, 2017 has been the most profitable year ever recorded in the history of the cryptocurrency. There was a massive adoption rate of Bitcoin, and this caused the price to skyrocket within months to reach its highest price ever recorded.
5. The total number of Bitcoins that will ever be produced stands at 21 million.
This number is fixed. It can only be changed by altering the source code. Besides, having a fixed value creates room for scarcity and limited supply. This in turn makes Bitcoin even more valuable – the original plan of Bitcoin creator(s).
6. Only 13 million Bitcoins are in circulation or stashed away in wallets.
In the early years when there was not much value attached to Bitcoin, many early adopters lost their private keys. Sadly, one can’t access his/her stored Bitcoins without them. According to statistics about Bitcoin, approximately 4 million Bitcoins have been lost due to the death of owners and loss of private keys. Another 1 million Bitcoins have also been lost due to cyber theft. This leaves only 13 million in circulation. Some of the most significant Bitcoin theft in history includes that of Bithumb ($30 million), Coinrail ($37.3 million), Coincheck ($534 million), and Bitgrail ($195 million).
7. Globally, there are 7,722 Bitcoin ATMs around the world.
Bitcoin ATM statistics reveal that this figure holds as of the first quarter of 2020. Countries like the US, Canada, UK, and Austria, have the highest concentration of Bitcoin ATMs.
8. Coinbase exchange has over 30 million users.
(Source: Coin Telegraph)
Coinbase is one of the most popular Bitcoin exchanges, and they handle the bulk of Bitcoin transactions.
9. There are approximately 200 million Bitcoin wallets in existence.
(Source: Buy Bitcoin Worldwide)
According to Bitcoin trade statistics, there are more wallets than there are users because each user can have more than one Bitcoin wallet. A popular exchange, “Blockchain.com,” claims to have about 45 million Bitcoin wallets in its database. Add that to the 30 million users from Coinbase, and you already have 75 million wallets – from two exchanges alone.
10. The lowest price to have ever been recorded by Bitcoin is $0.0008.
According to Bitcoin price statistics, during its launch in January 2009, one Bitcoin was equivalent to $0.0008. Its price remained so for over a year until its first price change in 2010.
11. Bitcoin users carry out up to 350,000 Bitcoin transactions daily on an average.
(Source: The Next Web)
In 2017 when the demand for Bitcoin was at an all-time high, Bitcoin market statistics reveal that daily transactions surged up to as high as 490,644 transactions per day.
12. There are over 980 million malware in existence, further aiding cryptojacking.
(Source: Data Prot)
For comparison, in 2019 there were only 903 million malware samples. And with the rise of cryptocurrency adoption, more and more of these samples are used for cryptojacking. A threat not to be underestimated. Thankfully, most antivirus solutions come with built-in protection against this threat.
Bitcoin Mining Statistics
Bitcoin mining is the only way new Bitcoins come into existence and add to the marketplace. Without mining, no Bitcoin transaction would go through as there would be no one to confirm the legitimacy of each transaction. Read on to find some of the most amazing Bitcoin mining stats.
13. Bitcoin mining produces an average of 1,800 new Bitcoins daily.
(Source: Buy Bitcoin Worldwide)
On average, miners can process 144 blocks in a day. Since 12.5 Bitcoins is the current reward for each verified block, then it follows that 144 blocks X 12.5 = 1800 Bitcoins.
14. Currently, the total number of Bitcoins in existence has exceeded 18.3 million Bitcoins.
(Source: Buy Bitcoin Worldwide)
According to statistics on total Bitcoin supply, every time a new block is added to the Blockchain, the total Bitcoins in circulation increases. So, every 10 to 12 minutes (the time it takes for new blocks to be processed and added to the Blockchain), new Bitcoins are added to the overall market cap.
15. For every 210,000 confirmed blocks, the number of Bitcoin reward allotted to miners will be cut into half.
This is known as the Bitcoin halving. Initially, the prize was 50 BTC for every verified block. In 2012, after confirming 210,000 blocks, the reward came down to 25 BTC. In 2016 again, after another 210,000 verified blocks, the prize was reduced to 12.5 BTC (which is the current figure). The next Bitcoin halving is looming and is speculated to occur in May 2020. This means the process occurs every 4 years on average.
16. The last Bitcoin will be mined by 2140.
The value of Bitcoin reward meant for miners is intended to halve for every 210,000 confirmed blocks added to the Blockchain. By calculation, it will take up to 120 more years before the remaining Bitcoins are mined, according to statistics on how many Bitcoins are left.
17. Bitcoin mining consumes almost 0.25% of the world’s power consumption.
(Source: Expanded Ramblings)
Bitcoin mining consumes an enormous amount of energy, and this electricity need exceeds that of some countries.
18. China owns 75% of the global mining network.
According to Bitcoin mining statistics by country, the process of mining Bitcoin has become too complicated and costly for individuals to bear. The process requires a lot of computing power, which in turn, consumes a whole lot of electric power. For that reason, a good majority of the Bitcoin mining firms have aggravated towards countries with cheaper access to electricity and advanced technology such as China, the US, etc.
19. Bitcoin mining processes an average of 144 blocks daily.
(Source: Buy Bitcoin Worldwide)
Remember, we earlier mentioned that it takes an average of 10 minutes to process each block of transaction. Also, statistics reveal that a total of 1440 minutes is spent daily, confirming blocks of Bitcoin transactions. Hence, it follows that 1440/10= 144 blocks daily.
20. During mining, each block can only contain 3500 Bitcoin transactions.
(Source: Coin Desk)
All blocks must be verified before being added to the Blockchain. This means any transaction inside a block that is not verified will not go through; however, there is a maximum number of transactions that each block can accommodate.
21. The estimated amount of power consumption currently required for Bitcoin mining processes yearly hovers around 69.60 TWh.
According to Bitcoin energy consumption statistics, the mining process requires a whole lot of electricity due to the advanced machines involved in the mining process. Plus, these computers have to be in constant operation trying to solve the available block for the reward.
Bitcoin Market Statistics
The Bitcoin market is quite huge at this moment, but it was even more valuable in 2017 when the price of Bitcoin plummeted to almost $20,000 per Bitcoin as reported by the Bitcoin market cap. Read on to find out more!
22. By 2023, the Blockchain market size could reach $23.3 billion.
(Source: Business Wire)
As of the end of 2019, the Blockchain market size was $2.2 billion, a significant increase from the $1.2 billion recorded in 2018.
23. Bitcoin transactions on the Blockchain network account for an average of $6 billion of daily online deals in the world.
(Source: Expanded Ramblings)
People now pay for goods and services with Bitcoin. Also, merchants buy and sell Bitcoin for short term gains due to price movements. According to Bitcoin Blockchain statistics, these and many more contribute to the increased Bitcoin transactions in recent times.
24. As of 2019, the overall market capitalization of all cryptocurrencies combined stood at $237.1 billion.
The cryptocurrency market is a billion-dollar industry, and this value remains valid for the first quarter of 2020. Bitcoin remains the most popular and most widely accepted cryptocurrency in the world. However, statistics on how many Bitcoins are there reveal that there have been over a thousand other cryptocurrencies created in the past few years that have also generated billions of dollars in market cap.
25. Bitcoin has the highest market cap of all cryptocurrencies.
(Source: Coin Market Cap)
According to the most recent statistics, Bitcoin is the most popular cryptocurrency in existence, accounting for 67.15% of the total cryptocurrency market cap. Ethereum has the second-largest cryptocurrency market at 8.43%. Others like Ripple (3.58%), Tether (2.63%), and Bitcoin cash (1.77%) are also not far behind. All these statistics reflect the values obtained from CoinMarketCap as of May 11, 2020.
26. As of Q1 2020, the overall Bitcoin market cap is $117.81 billion.
As of 2013, the Bitcoin market cap was just $1.02 billion. Then, in 2017, there was a price surge in 2017 that took the market by storm, thereby driving its market cap to a peak of $238 billion. More recently, the price of Bitcoin has settled down a bit, with very little or no significant action in the market.
Bitcoin User Statistics
According to Bitcoin user statistics, various user groups interact with the Bitcoin network differently. Check out the statistics to understand these variances.
27. The 25-34 year-olds make up the highest percentage of Bitcoin owners by age group (46.32%).
This group is followed closely by the 35-44 year-olds with 26.76%. Also, the least age group with Bitcoin ownership goes to the 65+ age group with 2.25%.
28. Turkey has the highest adoption rate of cryptocurrency.
According to Bitcoin adoption statistics, Turkey leads the way in cryptocurrency adoption. An astonishing 53% of the population of Turkey has a positive stance on Bitcoin becoming the future of online transactions. Also, the fact that the country’s currency is losing its value fuels this positive mindset towards cryptocurrency.
29. Bitcoin has 7.1 million active users.
(Source: Bitcoin Market Journal)
Active users include those who use Bitcoin almost every day for their various online activities. It could be for making online payments or for running speculative trade to make profits.
30. 87.72% of Bitcoin owners are male.
According to Bitcoin user statistics, Bitcoin users are predominantly male – 87.72%. Females make up the other 12.28%.
Bitcoin Blockchain Statistics
Each confirmed Bitcoin transaction is stored on the Bitcoin Blockchain, which happens to be a distributed ledger controlled by no one. This allows for an extra layer of security and is one of the main strong points of the Blockchain technology. The stats that follow will expound more on the Bitcoin Blockchain technology.
31. Worldwide spending on Blockchain-related technology could reach 15.9 billion by 2023.
In 2018, worldwide spending on Blockchain solutions was just $1.8 billion. However, in the next five years, we could see Blockchain adoption across various industries. There is ongoing research across nations to properly integrate Blockchain into the world economy.
32. As of May 11, 2020, Bitcoin Blockchain has a size of 277.56 GB.
(Source: Y Charts)
This is an ever-changing figure given that data is being generated daily on the Bitcoin network.
33. Financial organizations around the world alone can save up to $12 billion yearly by incorporating Blockchain services into their infrastructure.
Traditionally, financial transactions will require a third-party like the bank or the government to both verify and validate every monetary movement. This leaves room for extra charges from these so-called third parties, plus the threat of cybercrime and internal fraud. However, with the introduction of blockchain, monetary transactions go through a secure channel, and the fees of third party players are bypassed.
Curious Bitcoin Statistics and Facts
The history of Bitcoin features some stats that will surely leave you in shock! This follows as some early adopters could have been millionaires if only they were able to hold on to the enormous amount of Bitcoin in their possession at the time.
There’s more, though:
34. A man once threw away his hard drive that contained the private key to an account that has 7,500 Bitcoins stashed in it.
This happened to James Howells in 2013. He is British, and probably one the early adopters of Bitcoin. Although the hard drive was said to have been accidentally misplaced, going by the highest price ever attained by Bitcoin, it can be said that Mr. James lost well over $140 million.
35. The first Bitcoin merchant transaction was an exchange of two pizzas for 10,000 Bitcoin on May 22, 2010.
Just when the idea of Bitcoin was still early and the difficulty of mining Bitcoins was still very low, a transaction took place between two members of the Bitcoin-talk forum. This served as the first real-life transaction for a consumer product.
36. Approximately 4 million BTC is lost forever.
According to statistics on how many Bitcoins are left, the self-acclaimed Satoshi had up to a million BTC stashed up somewhere before his death. Some other Bitcoins have been lost through misplaced private keys of owners or their death.
Bitcoin is a digital currency, created for the sake of online transactions, and the first of its kind. Since its launch in 2009, millions of Bitcoin have been mined and placed into the world economy.
So, if you wonder how many Bitcoins are there – the answer changes all the time.
Do you use Bitcoin and what for? Buying pizza maybe?