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Approximately 19.8 million BTC are in circulation, with a total supply capped at 21 million. The remaining 1.2 million BTC will be introduced through mining, maintaining Bitcoin's deflationary structure. Bitcoin's mining process is designed to slow down over time, reducing the supply of new coins. The limited supply of Bitcoin contributes to its potential for long-term appreciation. As the supply of new coins decreases, Bitcoin's price could potentially increase due to growing demand.