Dropee question of the day code 9 December What is the maximum supply of Bitcoin?

Dropee Code of the Day Question December 9: Here’s the answer to Dropee’s Code of the Day Question of the Day: What is the Maximum Bitcoin Supply? and the answer is 21 million

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QUESTION: What is the maximum supply of Bitcoin?

Answer: 21 million

The maximum supply of Bitcoin is limited to 21 million coins, as defined by its creator, Satoshi Nakamoto, in the cryptocurrency’s protocol. This limit is hard-coded into Bitcoin’s design to simulate the scarcity of precious resources like gold, ensuring it cannot be inflated beyond this limit.

The supply is gradually released through a process called mining, in which miners solve complex mathematical problems to validate transactions and add them to the blockchain. The reward for mining Bitcoin is halved approximately every four years in an event known as “halving,” further slowing the creation of new coins over time. This fixed supply plays a key role in Bitcoin’s value proposition as a deflationary asset and a potential store of value.

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