流通供給量統計

This chart shows Bitcoin's cumulative issued supply — perhaps the only indicator on this site whose future is already known. The issuance rule lives in consensus code: a fixed subsidy per block, halving every 210,000 blocks (~4 years), stepping down from 50 BTC in 2009 toward a total converging just under 21 million. Each halving is a permanent kink in the slope, producing the familiar stair-stepped logarithmic flattening.

Issued does not mean liquid. First, coins mined early and never moved — including those attributed to Satoshi, estimated in the millions though unprovable — plus coins with lost keys are permanently out of circulation. Second, long-term holders' coins sit dormant for years and effectively don't supply the market. Third, exchange- and ETF-custodied coins trade off-chain while staying still on-chain. Any calculation using "market cap = price × 21M" overstates the real float — one reason metrics like Realized Cap exist.

Fiat supply follows central-bank discretion; gold supply responds to price and mining technology; Bitcoin's issuance at any future date can be computed to the coin. This perfectly rigid supply function underpins the scarcity narrative — digital gold, Stock-to-Flow and the rest. Keep two things separate, though: the supply rigidity is fact; valuation models derived from it (S2F most famously) have repeatedly failed. Judge each on its own record.

Beyond network data, see the broader market via total crypto market capとBTC liquidationsと併せて検証してください。