The total number of bitcoins that can be issued is capped at 21 million and they are created at a diminishing and predictable rate, making them scarce in future, thereby raising the value of existing coins. The number of new bitcoins generated per block is automatically halved every four years, with the final halving to take place in 2140. The current rate of 25 bitcoins per block was halved to 12.5 bitcoins on or around July 11, 2016, when the 420,000 bitcoin block was mined. Previously, halving occurred in late 2012 and the next is expected to take place in 2020.Bitcoins can be split into smaller units such as millibitcoin, microbitcoin and the smallest being the Satoshi – named after the founder- which is one hundred millionth of a bitcoin.1 bitcoin = 1,000,000.00 bits = 100,000,000 satoshi.