Bitcoin (BTC)
Unlock Schedule
Bitcoin (BTC) Token Unlock & Vesting Schedule
The chart shows gross modeled releases of every allocation: vesting unlocks, new issuance and reserve distributions, each allocation counted once. These have different meanings; a scheduled release is not evidence that tokens entered circulation or were sold. Review the coverage, sources and assumptions below.
Each color segment in the chart corresponds to a specific allocation group described in the Allocations section below. Underlying assumptions and data models used to reconstruct this schedule are explained in detail under Assumptions, while broader utility insights and token use cases are covered in Tokenomics & Utility.
Tokenomics & Utility
A scheduled supply
Bitcoin’s supply follows rules built into the network. Miners receive newly issued BTC when they produce valid blocks, along with transaction fees. The new-coin portion of that reward began at 50 BTC per block in 2009 and is cut in half every 210,000 blocks—roughly every four years. The April 2024 halving reduced it from 6.25 to 3.125 BTC per block. (bitcoin.org)
This schedule limits total issuance to about 21 million BTC. It also means the creation of new coins slows over time; the schedule is expected to run until around 2140. One bitcoin can be divided into 100 million smaller units called satoshis, or sats, so a payment does not need to involve a whole coin. (bitcoin.org)
BTC has a simple role within its network: it is the asset transferred between users and used to pay transaction fees. Bitcoin began through mining under its published rules, rather than through a token sale. Fees also form part of miners’ compensation and become increasingly important as the scheduled new-coin reward falls. (bitcoin.org)
Assumptions
New BTC enters circulation through proof-of-work block subsidies, which began at 50 BTC per block and halve every 210,000 blocks. Bitcoin Core's rules continue these reductions until the subsidy reaches zero, but the final block has no known calendar date. The unspendable 50 BTC genesis reward is excluded from the circulation chart. The chart shows the maximum permitted mining issuance, using observed dates for halving blocks and estimated timing between them and into the future; miners' actual claims may be lower.
- 1. https://raw.githubusercontent.com/bitcoin/bitcoin/master/src/validation.cpp
- 2. https://github.com/bitcoin/bitcoin/blob/master/src/kernel/chainparams.cpp
- 3. https://github.com/bitcoin/bitcoin/blob/master/src/consensus/amount.h
- 4. https://github.com/bitcoin/bips/blob/master/bip-0042.mediawiki
- 5. https://help.blockstream.com/education/economics/bitcoin-economics/why-is-the-bitcoin-supply-limited
- 6. https://mempool.space/block/00000000839a8e6886ab5951d76f411475428afc90947ee320161bbf18eb6048
- 7. https://mempool.space/block/000000000000048b95347e83192f69cf0366076336c639f9b7228e9ba171342e
- 8. https://mempool.space/block/000000000000000002cce816c0ab2c5c269cb081896b7dcb34b8422d6b74ffa1
- 9. https://mempool.space/block/000000000000000000024bead8df69990852c202db0e0097c1a12ea637d7e96d
- 10. https://mempool.space/block/0000000000000000000320283a032748cef8227873ff4872689bf23f1cda83a5
- 11. https://www.blockchain.com/explorer/blocks/btc/968663
Allocations
Dates past the last dated anchor are projected at 597.22 seconds per block, the observed mean between the last two dated anchors, instead of the 600-second target block interval
Description
#1
Bitcoin is a virtual currency designed to act as money and a form of payment outside the control of any one person, group, or entity, thus removing the need for third-party involvement in financial transactions. It is the first and most widely recognized cryptocurrency.
| Sector: | Payments |
| Blockchain: | Bitcoin |