Finance Monthly - January 2022

9 Finance Monthly. The Mon t h l y Round -Up ed the increasing supply as demand for newer bit- coin ramps up. When 10% of the supply was mined in early 2010, the asset went for less than $0.10, later hovering at $7.50 when 50% of the supply was mined in late 2012. In November of this year, bitcoin’s price rocketed to a new record high of over $68,000. While the rest of bitcoin’s supply is not expected to be mined until 2140, min- ers can continue to earn bitcoin in the meantime. Miners currently receive 6.25 bitcoin for each block mined. This would drop to 3.125 bitcoin per block after the next halving in 2024. As of 14th December, 90% of all bitcoins have been mined. This is according to data from blockchain tracker Blockchain.com. The milestone, which took almost 12 years to meet, means that 18.89 million bitcoins out of 21 mil- lion are now on the open market. However, based on network activity esti- mates, the remaining 10% supply is not expected to be mined until February 2140. Bitcoin prices have reflect- 90% of Bitcoin’s Supply Has Now Been Mined Reddit Inc has announced it had confidentially filed for an initial public offer- ing with US securities reg- ulators. Back in September, Reu- ters reported that Reddit, which was founded in 2005 by Steve Huffman and Alexis Ohanian, was hoping to reach a valua- tion exceeding $15 billion by the time it planned to list its shares. The San Francisco-based company’s message boards have been at the heart of a pitched battle between small-time trad- ers and large Wall Street firms that carried forward big gains in highly-shorted shares of companies such as GameStop and helped to grow the popularity of the term “meme stocks”. At the peak of the craze in February, Reddit’s value doubled to $6 billion from the previous year and, in August, was valued at $10 billion in a private fund- raising round. In October 2020, Reddit had approximately 52 mil- lion daily active users and over 100,000 communi- ties. In the second quarter of this year, the company reported $100 million in advertising revenue, al- most a threefold jump from the same period in 2020. Reddit Files to Take Company Public