Bitcoin has already been mined over 20.07 million coins—but don’t rush to call it deflation
Let’s break down the numbers first: On the August 15 UTC on-chain snapshot, $BTC has issued about 20.0705 million coins, with the block height around 962570. Based on a 21 million coin cap, there are roughly 930,000 coins unissued, accounting for about 4.43%. So the arithmetic behind the “remaining 4.4%” figure is basically fine.
But it’s easy to get misled by the headline here: the 4.4% refers to the share of the protocol’s supply that has not yet been issued—it does not mean only 4.4% of Bitcoin supply is left to buy in the market. $BTC still has block rewards, and the issuance rate will continue to decline as halvings roll on. More accurately, what you have is “a fixed cap, with issuance growth steadily decreasing,” not “supply has stopped increasing already.”
In practice, when you see news about the supply amount, first note the UTC timestamp, block height, the data endpoint, and the统计 scope/measurement method. Then verify it yourself using “(21 million − already issued) ÷ 21 million.” Also separate “issued” from “circulating”: long-term dormant coins, suspected lost coins, coins frozen in custody, coins locked by scripts—these all matter. Scarcity is only one supply variable; the other half of a price call is demand, liquidity, the macro environment, and how concentrated holdings are.
$BTC $BNB #AI observation
Let’s break down the numbers first: On the August 15 UTC on-chain snapshot, $BTC has issued about 20.0705 million coins, with the block height around 962570. Based on a 21 million coin cap, there are roughly 930,000 coins unissued, accounting for about 4.43%. So the arithmetic behind the “remaining 4.4%” figure is basically fine.
But it’s easy to get misled by the headline here: the 4.4% refers to the share of the protocol’s supply that has not yet been issued—it does not mean only 4.4% of Bitcoin supply is left to buy in the market. $BTC still has block rewards, and the issuance rate will continue to decline as halvings roll on. More accurately, what you have is “a fixed cap, with issuance growth steadily decreasing,” not “supply has stopped increasing already.”
In practice, when you see news about the supply amount, first note the UTC timestamp, block height, the data endpoint, and the统计 scope/measurement method. Then verify it yourself using “(21 million − already issued) ÷ 21 million.” Also separate “issued” from “circulating”: long-term dormant coins, suspected lost coins, coins frozen in custody, coins locked by scripts—these all matter. Scarcity is only one supply variable; the other half of a price call is demand, liquidity, the macro environment, and how concentrated holdings are.
$BTC $BNB #AI observation