More than 1 Million Bitcoins Became Unavailable in the Course of 2020 with Only 4.2 Million Now in Circulation (22%)

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As we wave goodbye to 2020 and usher in 2021, a new age for bitcoin has risen. The latest bitcoin metrics have clearly indicated that the rise in value in bitcoin, the world’s most dominanet and popular crypto asset, is highly in demand with investor confidence growing substantially over the course of 2020.

2020 was truly a defining year for bitcoin and crypto in general and this is evidenced by the number of bitcoins that got scooped up and locked by institutional investors.

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SEE ALSOThe Total Cryptocurrency Market Cap Grew By More than 3.3x in 2020 Alone, Latest Report Shows

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Below are just some of the latest stats as 2021 begins:

  • 88.5% of all bitcoin supply is already mined – 18.6 million bitcoins
  • Approximately 3 million bitcoins have been lost forever
  • 78% of bitcoins are now illiquid (14.5 million bitcoins)
  • 22% of bitcoins are liquid (1.2 million bitcoins are liquid & 3 million bitcoins are highly liquid)
  • More than 1 million BTC has become illiquid in the course of 2020 alone
  • The bitcoin illiquid supply is growing more than the total circulating supply

Illiquid bitcoin supply tends to decrease during bear markets, and increase during bull markets (and vice versa for the liquid supply).

The liquid portion of the supply has been in a constant downward trend since 9 months, decreasing its growth from 30% to 12% (measured since 2017).

Currently, we are at a stage in which the illiquid supply is growing more than the total circulating supply, a pattern we have similarly observed during the bull run of 2017.

The analysis paints a picture of an increasingly illiquid market as less bitcoins for buying become less an less available, further signaling a bull market in the coming months.

There is no doubt that the current bitcoin liquidity directly correlates with the bitcoin market and everything points to a prolonged bullish market.

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RECOMMENDED READINGBitcoin Hits the $29, 000 All-Time High as 78% of Bitcoin Becomes Illiquid

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