Bitcoin Float
The amount of bitcoin realistically available to buy, after removing the coins that cannot or will not trade. The strict in-play cut used as the headline on /float subtracts provably lost coins, government holdings, spot ETF custody, public-company treasuries, and deep-dormant long-term holdings from the mined supply · roughly 6M BTC of the 21M maximum as of mid-2026, and shrinking structurally · the live number is the /float headline.
How to read it
Float thinking starts from one observation: the 21 million cap is not the supply that matters, because most coins cannot or will not move. Subtract what is provably lost, what governments hold, what sits inside ETFs, what corporate treasuries have locked up, and what is not yet mined, and the purchasable remainder is startlingly small. Read the float as a direction, it only shrinks structurally, rather than as a precise count.
On Galaxy Mind
The /float page is built around this idea: the reservoir instrument shows the in-play remainder as liquid draining toward the sealed vault, with the mining tap dripping in new supply six times slower than demand removes it. The float milestone email alerts fire when the number crosses round thresholds.
Context
Estimates of lost coins alone run three to four million. ETFs absorbed over a million coins within two years of approval, and treasuries keep adding. Each halving cuts the refill rate in half, April 2028 drops daily issuance from about 450 to about 225 BTC. The supply squeeze is not an event, it is a schedule.