Supply & Issuance

Money Supply & Issuance

Bitcoin's current money supply, all coins ever issued, and the countdown to the theoretical maximum of 20,999,999.9769 ₿.

Bitcoin's supply is not a single number - it depends on what you're counting. This page tracks three distinct figures: the spendable UTXO balance, the gross issued supply since block 0, and the remaining issuance until the last satoshi is mined around 2139.

Money Supply (UTXO Set)

The sum of all unspent transaction outputs - bitcoin that can actually be spent right now. This is the canonical answer to "how much bitcoin is in circulation." It is computed by scanning the full UTXO set and excludes anything provably unspendable.

Gross Issued Supply

All satoshis ever created by block subsidies, including coins whose outputs are provably unspendable. This value is fully deterministic from block height alone - no UTXO scan needed. Formula: Σ floor(subsidy_sat / 2^epoch) × blocks_in_epoch up to current height.

Unspendable (the gap)

The difference between gross issued and the UTXO set. Includes the genesis block coinbase (50 ₿ - the transaction has no spendable output), unclaimed block subsidies where miners deliberately took less than allowed, and OP_RETURN burns. This gap grows slowly and permanently over time.

Supply Snapshot

Money Supply (UTXO Set)

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Gross Issued Supply

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Unspendable

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Percentage Issued (gross)

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Issuance

New Supply (24h)

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New Supply (1y)

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Issuance Remaining

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Max Supply

20,999,999.9769 ₿

Past Supply Milestones

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Upcoming Supply Milestones (est.)

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Supply Curve

gross issued supply since genesis

Why Money Supply ≠ Gross Issued

These two numbers diverge from the very first block. The genesis block coinbase paid Satoshi 50 ₿, but the transaction was constructed in a way that makes it unspendable by design — the output cannot be referenced in any future transaction. Every full node independently verifies this. As a result, the gross issued supply has always been higher than the spendable UTXO set.

The gap also grows whenever a miner claims less than the full subsidy allowed by protocol. This happens rarely, but it has occurred - and each time, those satoshis are gone forever. See Unclaimed Block Subsidies for all known cases.

Note: the money supply figure shown here comes from a live UTXO set scan and may trail the block tip slightly. The gross issued supply is computed in real time from block height.

The Hard Cap and Integer Division

Bitcoin's theoretical maximum supply is 20,999,999.9769 ₿ - not exactly 21 million. This is a direct consequence of how Bitcoin Core computes block subsidies using integer (floor) division in satoshis. From epoch 10 onward, each halving introduces a sub-satoshi rounding loss that accumulates to 2,310,000 sat (0.0231 ₿) that will never exist.

The remaining issuance on this page counts down to the true theoretical maximum of 20,999,999.9769 ₿. No new bitcoin will ever be created after epoch 32 (≈ year 2139), when floor(1 sat / 2) = 0.

Maximum Supply - why the hard cap is exactly 20,999,999.9769 ₿, not 21 million, with the full epoch table.
Subsidy Epochs - current epoch progress, blocks remaining, and halving countdown.
Provably Unspendable Bitcoin - genesis block, unclaimed subsidies, and OP_RETURN burns: coins whose loss is verifiable on-chain.
Unclaimed Block Subsidies - blocks where the miner claimed less than the full subsidy, permanently removing sats from circulation.