web3: CZ claims that bitcoin is in real circulation or below market expectations

As the next bitcoin is cut in half, the market is again discussing its real supply. In recent days, the founder of the coin, Zhao Chang Peng (CZ), has indicated that the amount of bitcoin available may be less than the apparent data, as some of the coins that have been exploited are no longer actually available for market circulation.

Quantity of mined near ceiling

CZ mentioned that as of August 2026, bitcoin had accumulated more than 2007 million mines, not far from the total ceiling of 21 million. By this caliber, only about 4.4 per cent of the maximum supply of bitcoin is not yet mined.

This means that, from the aggregate point of view, the new supply of bitcoin is shrinking. As the mechanism of halving advances, the market entry of new currencies will further slow down.

Partial bitcoin or permanently out of circulation

According to CZ, the market usually considers the amount mined as a tradable stock, but this figure is not necessarily equal to real tradable supply. He estimates that about 10 to 20 percent of the existing bitcoin may have been lost, locked or permanently unrecovered for other reasons.

Such assets typically include lost wallets with private keys, addresses that have been inaccessible for long periods of time, and bitcoin that is de facto untransferable. If this estimate is established, the amount of bitcoin that can be bought, sold and transferred on the market will be significantly lower than the total amount mined.

The scarce discussion is warming again.

The CZ statement once again brought the scarcity of bitcoin back to the market. The amount of bitcoin is fixed and would be one of its core characteristics; the actual tradable supply would be tighter if the non-negotiable portion was deducted.

However, this claim is currently based primarily on estimates and is not a single calibre in the chain that can be fully validated with precision. For the market, such discussions often reinforce the perception of long-term supply constraints of bitcoin, especially in the context of the proximity of the halving cycle.