The Bitcoin Float
Most of the 21M is locked away. The hourglass below shows only the · what's actually likely to change hands.
Drag the year · halving notches halve the refill
⌬ How to read this
- 1.The orange liquid is bitcoin actually likely to be sold again: what's left after subtracting lost coins, government seizures, ETFs, public-company treasuries (MSTR & co.), and long-term holders sitting on coins for 155+ days.
- 2.⛏ Mining drips in from the top, about 450 BTC/day, halving every 4 years. Slowing.
- 3.⛁ Demand drains out the bottom: ETFs, treasuries, accumulators. Currently ~6× the new supply.
- 4.Etched lines on the glass mark the float at past halvings. The level keeps falling.
Demand outstripping supply by this much, this consistently, is historically bullish, but the scoreboard is in /stack. This page just shows what's left.
Every square · 10,000 BTC
All 21 million bitcoin that will ever exist, as 2,100 squares. The orange ones are still realistically buyable · 605 squares. Everything else is already spoken for.
The Float Over Time
Bitcoin still up for grabs, yet to be mined or bought · halving events marked
Synthetic reconstruction · monthly samples computed from cohort launch dates (Silk Road seizure 2013, MSTR Aug 2020, Spot ETFs Jan 2024) and current cohort sizes. Daily KV-snapshot granularity available on the 1Y view once enough history accumulates.
The Halving Runway
Demand is already 6.0× the new supply. And it doubles on a known schedule.
Next halving in 655 days. Daily new supply drops from 450 BTC → 225 BTC. If today's absorption pace holds, the ratio doubles overnight.
*Holding demand constant is a thought experiment, not a forecast · see Methodology.
Where it all lives
21 million bitcoin, accounted for · tap a row for detail.
The glowing liquid is the 6M BTC still realistically in play. Where does your stack sit inside it?
Your 0.21 BTC is about 0.0000035% of the Bitcoin still in active play. Scarce company.
Conceptual only · your coins are not held in the "in play" bucket in any custodial sense, and this never leaves your browser.
Methodology & Sources
Hero number = mined − lost − governments − ETFs − public-company treasuries − long-term-holder remainder. The LTH cohort (Glassnode · coins not moved 155+ days) is overlap-adjusted before subtraction: we back out the lost / gov / ETF / treasury portions (which are themselves LTH-classified by definition) so MSTR's coins aren't double-counted. The strictest "buyable on an exchange right now" framing (~exchange reserves) appears above the breakdown for context, not as the headline.
| Metric | Source | Last reviewed |
|---|---|---|
| Mined / circulating supply | mempool.space (block height) | live |
| Government holdings | bitcointreasuries.net | daily snapshot |
| Spot Bitcoin ETF AUM | bitcointreasuries.net (aggregate) | daily snapshot |
| Public-company treasuries | bitcointreasuries.net (aggregate) | daily snapshot |
| Provably lost (>7y dormant) | Glassnode (lth-supply-7y derived) | 2026-05-11 |
| Long-term holder baseline | Glassnode lth-supply | 2026-05-11 |
| Exchange reserves | CoinGlass /Balance | 2026-05-11 |
Last data refresh: Sun, 28 Jun 2026 04:57:05 GMT. Slow-moving cohorts (lost, LTH baseline, exchange reserves) are reviewed quarterly and updated in src/lib/float-snapshot.ts.
Data freshness · cite this page
Last updatedGalaxy Mind, "The Bitcoin Float," https://galaxymind.space/float, accessed June 28, 2026.
Tell someone how much bitcoin is actually left
Opens your share sheet (or X compose) with a pre-filled message. Recipients see a live preview card with today's float number. The snapshot auto-updates when the data moves.
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"It's going up forever, Laura."