Satoshi Nakamoto chose this number to create controlled scarcity.
The specific number is less important than the principle: there is a fixed, known, immutable limit.
Bitcoin's Maximum Supply — 21 Million, Forever
Bitcoin has a hard cap of 21 million coins. Not 21 million "roughly" or "approximately" — exactly 21 million, enforced by the code that every Bitcoin node runs.
Buy Bitcoin at 1Bitcoin.ca →Why 21 Million?
The supply schedule is public and verifiable.
| Period | Block Reward |
|---|---|
| 2009–2012 | 50 BTC per block |
| 2012–2016 | 25 BTC per block |
| 2016–2020 | 12.5 BTC per block |
| 2020–2024 | 6.25 BTC per block |
| 2024–2028 | 3.125 BTC per block |
| Future | Continues halving every ~4 years until ~2140 |
What This Means for Canadian Investors
Canadian Dollar (CAD)
The Bank of Canada has no fixed limit on how many dollars can be created.
Since 2020, Canada's money supply expanded significantly.
When more dollars chase the same goods, prices rise.
Bitcoin
Bitcoin's supply schedule is fixed, known in advance, and mathematically enforced.
No government, company, or majority vote can create more Bitcoin beyond the 21 million cap.
For Canadians concerned about long-term purchasing power erosion, Bitcoin's fixed supply is the core investment thesis.
How Much Bitcoin Is Left to Mine?
As of 2026, approximately 19.7 million of the 21 million Bitcoin have already been mined.
About 1.3 million remain — and those will be mined gradually over the next ~114 years.
Additionally, an estimated 3–4 million Bitcoin are permanently lost.
The effective circulating supply is closer to 15–16 million Bitcoin.
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See also: Bitcoin Halving Canada | Why Only 21 Million Bitcoin | Buy Bitcoin in Canada