The limitation of the maximum number of coins creates a shortage of them, similar to gold, which increases the value of the asset as demand grows. This protects BTC from inflation typical of national currencies, which can be printed indefinitely. The limited supply makes BTC an attractive savings and investment vehicle, keeping its value stable over the long term.

As we’ve noted, the debate over the limit has flared up with renewed vigour in recent days. According to Cointelegraph journalists, the reason for this was a short educational video from investment giant BlackRock. It outlines an important disclaimer: there is supposedly “no guarantee” that the maximum number of bitcoins cannot be changed.

How many total bitcoins are there in the world?

As of today, there are 19,798,721 bitcoins in circulation, which translates to 94.2 per cent of the cryptocurrency’s maximum supply.

The actual number of bitcoins in circulation

It is important to note that the limit of 21 million coins will only be reached by the network in the distant year 2140. The reason for this is the halving mechanism, which in the case of BTC reduces the amount of miners’ rewards per block by half every 210,000 blocks or approximately every four years. Thanks to the procedure, the number of new coins in circulation regularly decreases and the cryptocurrency’s issuance becomes slower and slower.

A recent video from BlackRock explains that Bitcoin has a fixed limit of 21 million coins. Here’s a relevant rejoinder on the subject.

The firmly programmed rule controls supply, purchasing power, and helps avoid potential abuse by issuing more and more coins.

This is indeed true, as miners cannot release a certain number of bitcoins at will. With each block, the cryptocurrency supply is now growing by 3.125 coins, and there is no way to change that. Already tentatively in 2028, the figure will fall to 1.5625 BTC.

Nevertheless, the following disclaimer about what is happening is added to the video.

There is no guarantee that Bitcoin’s maximum supply limit will not be changed.

A moment of clarification about the Bitcoin offer in the BlackRock advert

The video was reposted by MicroStrategy Executive Chairman Michael Saylor, after which the commercial was heavily criticised within the community. Here, for example, is what Dashpay’s director of marketing and development Joel Valenzuela said about it.

When the increase in the offer limit happens, it will be presented as a strategy that “has always been part of a bigger plan.” Today, in 2024, people are boldly claiming that Bitcoin is still independent.

This is a hint that large corporations are supposedly trying to “take over” Bitcoin. Still, it was BlackRock’s initiative that led to the approval of the first Bitcoin-based spot ETFs in the US. However, this does not mean that a large corporation will be able to subdue the decentralised ecosystem, because the number of accumulated coins will not affect the rules of the network.

The question of whether Bitcoin’s supply limit can be changed depends on the very definition of the cryptocurrency – this is the opinion of a developer under the nickname Super Testnet. Some other analysts argue that it could theoretically be corrected if a majority of the community members from node operators to miners and investors reach a consensus on a hardfork, moving to a new chain with modified operating rules.

It is likely that developers will first put forward a proposal to discuss the problem in the community to determine the degree of consensus before making changes to the rules in Bitcoin Core. This could result in a hardfork, and community members will have to decide which new paradigm to adopt.

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If the vast majority of node operators and miners support the new fork, it could gain more market share and hashrate, resulting in them operating within the “new” Bitcoin network with no limited supply or just an increased limit.

Super Testnet user Super Testnet noted that while this is possible, the new blockchain will no longer be “Bitcoin”. Here’s his rejoinder.

The inflation limit itself defines the essence of Bitcoin. Take that away, and what remains is no longer Bitcoin. It’s like asking what it takes to turn BTC into PayPal.

Bitcoin’s network hashrate changes

In other words, the version of Bitcoin without supply constraints will no longer be the same project that Satoshi Nakamoto once developed. Another important detail is the economic benefit to miners. Bitcoin’s security model relies on people and organisations to mine it and must be economically motivated.

Miners are currently rewarded 3.125 BTC per mined block, but by 2028 this amount will drop to 1.5625 BTC in another halving procedure. Miners benefited from rising transaction fees in 2024 during the hype surrounding the Bitcoin Ordinals project. However, the hype was mostly seasonal in nature.

ASIC miner for Bitcoin mining

Fortunately, miners on their own will not be able to initiate a new successful Bitcoin hardfork – this is also confirmed by the words of the developers. In addition, the hardfork is able to bring them additional troubles in the form of huge volatility in the value of BTC. Therefore, it is unlikely that the Bitcoin ecosystem will change so drastically.


The prospect of increasing the maximum Bitcoin supply is unlikely to be realised. One way or another, it requires the consent of most of the cryptocurrency community. Well, as time has shown, they value Satoshi Nakamoto's legacy and carefully preserve it. Therefore, refusal from the limit of 21 million BTC will be perceived as a betrayal, which fans of decentralisation are unlikely to agree to.

Look for more interesting things in our crypto chat room. We look forward to seeing you there, because what else is there to do on a Friday night?

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