Bitcoin was worth $20,032, up 2.40% in previous 24 hours
According to Bloomberg research, the early adopters of Bitcoin still control most of it. The report states that “early entrants in digital assets have taken back much of the wealth and the volatility with it.”
In April, Bitcoin reached the milestone of the 19 millionth Bitcoin mined, leaving less than two million BTC remaining for miners to put into circulation. The Bitcoin circulating supply is presently 19,093,450 BTC, with the maximum supply remaining at 21 million.
A miner currently earns 6.25 BTC for every block they produce. Since mysterious Bitcoin creator Satoshi Nakamoto mined the first block, which earned a reward of 50 BTC, the block reward, as it is known, has been halved every 210,000 blocks, or almost every four years.
Therefore, even though it took about 12 years to generate 19 million Bitcoins, it is possible that the final two million will not be created until 2140. At the time of publication, Bitcoin was worth $20,032, up 2.40% in the previous 24 hours.
The correlation between Bitcoin price and US equities is weaker than it has been for most of the year. Bitcoin’s 40-day correlation coefficient with the tech-heavy Nasdaq 100 index fell below 0.50 to levels last seen in January.
Bitcoin now adopted by New York Yankees
The New York Yankees and NYDIG, a top Bitcoin company, have entered into a multi-year relationship that will make NYDIG the team’s official Bitcoin Payroll Platform. As a result of the agreement, employees of the Yankees organization will have access to NYDIG’s Bitcoin Savings Plan (BSP).
The New York Yankees, founded in 1903, have appeared in 40 World Series, winning the championship 27 times. The team plays its home games at Yankee Stadium, one of New York City’s most popular tourist attractions and the site of various non-baseball events, including the Pinstripe Bowl for college football.
