With less than two million bitcoin left to be mined, Bitcoin’s limited supply has just gotten even more limited.

The 19 millionth bitcoin has just been mined, data from .

In addition to protecting people’s purchasing power, with its predictable policy Bitcoin enables planning for the future as users can rest assured that nobody will debase their money. Important developments in society are arguably enabled by a strong commitment to long-term work and investment, rather than short-term bets.

But given the paramount scarcity of BTC, why has its price been trading in a range between $30,000 and $60,000 over the past year?

The Bitcoin price in U.S. dollars can be thought of as a lagging indicator of humanity’s understanding of the technology and its innovative value proposition. Currently, only a small percentage of the world’s population truly grasp the unique concepts of programmatically decentralized and scarce money, so while the Bitcoin price might trend to infinity over the long term, that won’t likely become a reality until most of the global population – or most of the world’s capital – starts understanding that. When they do, a sharp supply shock might ensue as an unlimited amount of money flows into a limited amount of bitcoin.

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