As of April 2026, the circulating supply of Bitcoin is approximately 20.01 million BTC, with more precise estimates around 20,018,418 BTC. Bitcoin’s maximum supply remains capped at 21 million BTC, which means more than 95% of all Bitcoin has already been mined.
The total number of Bitcoins in circulation is determined by the network’s issuance schedule. Unlike traditional currencies, Bitcoin follows a transparent and predictable supply model.
At any point in time, the circulating supply can be estimated based on how many blocks have been mined.
Supply is created through block rewards
Each time a new block is added to the blockchain, a fixed amount of Bitcoin is created as a reward for miners.
The total supply is essentially the sum of all rewards generated across every mined block.
This means:
Total Bitcoin supply = Number of mined blocks × Block reward (adjusted over time)
Block rewards decrease over time
Bitcoin does not issue new coins at a constant rate.
Instead, the reward given to miners is reduced at regular intervals. This process is known as halving and occurs approximately every 210,000 blocks.
The reward schedule follows this pattern:
50 BTC per block in the early stage
25 BTC per block after the first halving
12.5 BTC per block after the second
6.25 BTC per block after the third
3.125 BTC per block after the fourth (current era)
This sequence continues, with each halving reducing the rate of new supply.
Circulating supply gradually approaches the maximum limit
Because the block reward keeps decreasing, the number of new Bitcoins created over time becomes smaller.
As a result, the total supply grows at a slowing pace and gradually approaches the maximum limit of 21 million coins.
Most of the total supply has already been mined, while the remaining portion will be released over many years.
Supply can be tracked in real time
The current circulating supply is not fixed in advance but can be calculated at any moment based on blockchain data.
Various public tools and charts provide real-time estimates, showing how many Bitcoins have already been mined and how close the network is to its maximum supply.
Bitcoin’s supply model is designed to be predictable and transparent. This controlled issuance is one of the key factors that differentiates it from traditional currencies.