In his seminal 1976 paper, Pósa showed that for all $p\geq C\log n/n$, the binomial random graph $G(n,p)$ is with high probability Hamiltonian. This leads to the following natural questions, which have been extensively studied: How well is it typically possible to cover all edges of $G(n,p)$ with Hamilton cycles? How many cycles are necessary? In this paper we show that for $ p\geq C\log n/n$, we can cover $G\sim G(n,p)$ with precisely $\lceilΔ(G)/2\rceil$ Hamilton cycles. Our result is clearly best possible both in terms of the number of required cycles, and the asymptotics of the edge probability $p$, since it starts working at the weak threshold needed for Hamiltonicity. This resolves a problem of Glebov, Krivelevich and Szabó, and improves upon previous work of Hefetz, Kühn, Lapinskas and Osthus, and of Ferber, Kronenberg and Long, essentially closing a long line of research on Hamiltonian packing and covering problems in random graphs.