🔍 BTC is dissolving in cold wallets.
• Over three years, 886,000 BTC (~$98 billion at the current price) has left exchanges - this is 4.5% of the total supply of 19.75 million coins.
• However, around 4 million Bitcoin are considered permanently lost, 1 million belong to Satoshi and have not moved since 2009, and another 6-8 million have not been moved for more than 5 years.
ℹ️ This means that only 8-9 million BTC are actively circulating, and against this backdrop, the outflow of 886K coins already accounts for about 10% of the total liquid supply.
