Crypto News: September 23, 2019 - October 22, 2019

1. Bitcoin’s 18th millionth BTC mined

On Friday 18 October 2019 the 18th millionth bitcoin was mined. This leaves only 3 million bitcoin remaining to be mined out of a total maximum supply of 21 million supply.

This event is a good reminder of how scarce bitcoin is as a digital asset.

In this regard it is also interesting to point out that the next bitcoin halving is less then a year away, currently estimated to take place on 14 May 2020, as shown here.

The remaining supply of 3 million bitcoin is projected to be mined over a long period of time, extending up to the year 2140.

 

2. Fidelity rolls out custody & trading

Fidelity Investments, the Boston based financial services corporation with $ 2.8 trillion of assets under management, has announced that it's rolling out a digital assets custody & trading solution for hedge funds, family offices and financial advisers.

Abigail Johnson, CEO of Fidelity Investments, stated in this regard that: There are people out there with significant amounts of wealth in cryptocurrencies, probably Bitcoin, and they’re looking for somebody to hold those coins for them because in the event of their passing — which is going to happen at some point or another — you’ve got to have a plan to be able to get those coins to somebody else.


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