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Last Updated on November 23, 2022
If you are a crypto enthusiast or pundit, then the value of Bitcoin is something that must have crossed your mind more than enough times. The price of Bitcoin is highly volatile, and this volatility makes it more interesting. If Bitcoin had a standard price, then the high interest in this crypto would not be there.
There are currently over 190 million Bitcoin users. These include individuals who use it for transaction purposes. As a digital currency, you can use Bitcoin to pay for goods or services in different places that accept it. Apart from users who use Bitcoin purely as digital currency, some users invest in it. Bitcoin is a valuable digital asset with a higher value than traditional assets like gold.
If you’re pondering whether to invest in Bitcoin, then maybe it’s time to start. Even with little knowledge or experience, you can buy and sell Bitcoin through an online trading platform like bitcoin up. There you can also diversify your portfolio to other cryptocurrencies.
The Value of Bitcoin
Bitcoin is an attractive cryptocurrency primarily because of its high value. Currently, the price of Bitcoin is around $19,800. This price can change at any moment. Towards the end of November 2021, the value exceeded $68,000, making it the highest value ever for Bitcoin. Since early this year, the price began plummeting again.
However, when you look at the value of Bitcoin overall, it has consistently increased. So, despite the episodes of price drops or crypto winters, the value of Bitcoin will always rise. Knowing what price Bitcoin will have in the future is a wild guess. No one knows because multiple factors influence the price.
The Value of the Last-Mined Bitcoin
Based on the algorithmically-based limitation on the amount of Bitcoin, miners will produce the last coin around 2140. Only 21 million Bitcoins will exist, and miners have already created over 90% of them. After the 21 millionth coin, there will be no more Bitcoins to mine.
To be utterly sincere, no one knows the value of the last-mined Bitcoin. However, we can only make some guesses based on some factors. First, the last-mined Bitcoin may have no value at all. The reward that miners get for mining Bitcoin will be negligible by then. With almost zero awards for the last-mined coin, then some crypto pundits reason that it will have no value.
Second, we can suggest that the value for the last-mined Bitcoin will be very high. It could be the highest value that Bitcoin has ever had. The reasoning behind this is simple. There are currently hundreds of thousands of Bitcoin miners. This number could even go up in the future. So, the miner who mines the last Bitcoin will be like a winner in a high-value lottery.
Additionally, mining Bitcoin is an expensive process. Some miners have invested millions of dollars in the process. Such high investment and effort can’t be without a reward. The miner who finds the last-mined Bitcoin, having invested so much into it, expects a good value for the Bitcoin that is commensurate with the effort.
No one knows what the value of the last-mined Bitcoin will be. However, it is likely to be very high considering some facts, like the numerous miners investing so much in mining it. Since no more Bitcoins will be available to mine after the last one, chances are that it will be valued highly high.