Ownership
Where the supply sits
We estimate retail holdings by subtracting recorded company, fund, and government balances and estimated lost coins from circulating supply.
Identified holdings
2,295,705
11.4% of circulating supply · BTC
Estimated retail
70.1%
14,089,866 BTC after estimated losses
Circulating supply
IBIT-only fund coverage- Estimated retail14,089,866 BTC70.1%
- Estimated lost3,700,000 BTC18.4%
- Corporate treasuries1,294,037 BTC6.4%
- Funds (IBIT only)784,526 BTC3.9%
- Governments217,143 BTC1.1%
The calculation
BTCCirculating supply20,085,571
− Estimated lost coins3,700,000
− Corporate holdings1,294,037
− Fund holdings (IBIT only)784,526
− Government estimates217,143
= Estimated retail14,089,866 BTC
How we estimate retail
We use the remaining balance as an estimate of bitcoin held by individual investors. Some institutional holdings may be missing from our records, so this is an estimate rather than an exact count.
The loss estimate also matters. Assuming more lost coins reduces the retail estimate; assuming fewer increases it.
Read the methodologyFund coverage is limited to an older IBIT figure, and government estimates are incomplete. Adding missing holdings would reduce the estimated retail share.