The Bitcoin ecosystem is still in its infancy, making it possible, if not likely, that Bitcoin will continue to evolve in the coming years. But regardless of how Bitcoin evolves, no new coins will be released after the limit of 21 million coins is reached. Bitcoin will never “run out”, as more than 18 million Bitcoin has already been mined and ultimately there will be 21 million in the system. However, the introduction of new supplies will eventually cease.
This is one of the reasons why Bitcoin bulls are so enthusiastic about cryptocurrency. In their view, the demand for Bitcoin will eventually outstrip the limited supply, driving prices up exponentially. I think the success of stablecoins is a warning sign for Bitcoin holders, as it could reduce Bitcoin to a pure store of value. But it will be another 120 years before the last Bitcoin is minted, due to the gradual reduction of Bitcoin's new creation caused by the halving process.
The Bitcoin blockchain was designed around the principle of controlled supply, meaning that only a fixed number of newly minted Bitcoin can be mined each year until a total of 21 million coins have been minted.
Bitcoinminers will be able to continue earning block rewards until a total of 21 million BTC have been minted, after which no new Bitcoin will enter into circulation. It is true that switching to a reward structure based solely on transaction fees would almost certainly decimate the mining network now, as few Bitcoin miners would be able to profitably mine Bitcoin if they received only 6.5% of their typical rewards. By its very definition, a stablecoin would be linked to a fiat currency, and the goal of Bitcoin is that it is not linked to this, so it will be necessary to see if investors are more into stablecoins or Bitcoin as their store of value of choice.
Unlike fiat currencies, such as the dollar, which can be printed at will by central banks, the computer algorithm that manages Bitcoin limits its total issuance to 21 million bitcoins (about 18.5 million have been created so far). It's always long, and in saying that Bitcoin will rise forever, I think the CEO of MicroStrategy was simply hinting that the long-term evolution of Bitcoin prices will be very positive. Although Bitcoin's price increases depend on future buyers paying more for it than current buyers, Bitcoin has added value in financial transaction possibilities and a unique store of value. The Bitcoin Cash(BCH) mining network fell prone to 51% attacks in May last year, when 2 miners controlled 43% of the Bitcoin Cash mining pool. It has recently been used by hackers who demanded ransomware payments in bitcoins, but criminals have mostly moved to other cryptocurrencies that offer stronger anonymity than Bitcoin.
The question remains: Will Bitcoin, with its limited supply and ever-increasing demand, remain a viable currency for years to come? The answer is yes. The fact that there is a finite number of coins means that there is an inherent scarcity built into the system which makes it attractive as an investment vehicle and store of value. Additionally, its decentralized nature makes it resistant to manipulation by governments or other entities. As long as people continue to use and trust Bitcoin, it should remain a viable currency for years to come. The future of Bitcoin, like any other currency or asset class, is uncertain.
But with its limited supply and increasing demand from investors and users alike, it seems likely that it will remain an important part of our financial system for many years to come.