유통 공급량 통계

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 and BTC liquidations.