Michael Saylor Predicts 99% of Bitcoin Supply Will Be Mined by 2035

• Michael Saylor predicts 99% of Bitcoin will be mined by January 2035, marking a significant shift in Bitcoin’s supply timeline.
• As 99% of Bitcoin is mined, the scarcity factor will drive up demand, leading to potential price increases in the future.
• Bitcoin miners may face challenges as rewards diminish, likely adjusting to a new economic landscape based on transaction fees.

MicroStrategy co-founder Michael Saylor has issued a bold new prediction that 99% of Bitcoin will be mined by January 2, 2035. This projection comes at a time when Bitcoin’s total supply has already reached 94.10%, according to CoinMarketCap data. Currently, there are 19.76 million Bitcoin (BTC) in circulation out of the 21 million maximum supply, leaving only 1.24 million BTC to be mined.

Saylor’s forecast suggests that Bitcoin mining activities will intensify over the next decade. This accelerated pace could see nearly 5% of the remaining Bitcoin supply brought into circulation far earlier than many industry experts had initially expected.

Scarcity and Price Implications

Saylor’s prediction has significant implications for Bitcoin’s scarcity. As 99% of the Bitcoin supply becomes available, the remaining 1% will be increasingly difficult to mine, likely resulting in higher prices. Scarcity has always been a key factor driving Bitcoin’s value, and as demand continues to rise while the supply diminishes, Bitcoin could experience substantial price appreciation.

Many market analysts had previously estimated that the final Bitcoin would not be mined until around the year 2140. Saylor’s projection drastically shifts this timeline forward, raising questions about how the cryptocurrency market will react to the accelerated mining process.

Impact on the Bitcoin Mining Industry

An important aspect of Saylor’s forecast revolves around the economic effects of Bitcoin mining. As the block rewards for miners decrease, the profitability of mining may face challenges. Miners will need to adapt to these changing conditions, especially as mining becomes less rewarding with a diminishing supply of new Bitcoin.

Additionally, the Bitcoin network’s halving events, which reduce mining rewards every four years, will continue to impact the industry. As the available Bitcoin supply decreases, miners may need to rely more on transaction fees rather than block rewards, shifting the industry’s revenue model.

Bitcoin Price Movements

Bitcoin has seen a strong rally in recent days, reaching a high of $65,670 in recent trading sessions. The digital asset is on track to record one of its best-performing months in September, driven by interest rate cuts and favorable market conditions. Bitcoin has gained over 11.31% this month, marking a significant recovery compared to its average September losses of 5.9% over the past decade.