We have clarified the current data: Today and over the past few days, Bitcoin as a whole looks good. In particular, the cryptocurrency was able to grow above the $50,000 level the day before and even reached a local peak of $51,810. Overall, the impression is that the worst with the market is over, and the coin niche itself is still able to show some new records.

Bitcoin daily rate chart

What’s happening with Bitcoin

CryptoRank notes that there are now only 1.3 million BTC on exchanges, or about 6.2 percent of all mined coins. Here’s a visual statistic from the analysts, with which they shared the results of the study.

Bitcoin stocks on exchanges

The Coinbase platform holds the most bitcoins by users – we are talking about 583 thousand coins. The second place is occupied by Binance with 329 thousand bitcoins. Finally, the top three closes with Bitfinex, which currently holds 193 thousand BTC.

The decrease in bitcoin supply is nothing new – it has been trending downwards since the Halving in May 2020, when the reward per block of BTC was halved. As a result, the volume of bitcoins available on exchanges has declined smoothly over the past year. According to Cointelegraph, exchange wallets accounted for 9.5 per cent of BTC supply in October 2020 and already 7.3 per cent in July this year.

December's figure of 6.2 per cent is the lowest for the entire outgoing year.

Interestingly, Coinbase, which ranks first in terms of the amount of BTC in users’ wallets, is slowly losing its lead. The platform’s share of total coins on exchanges has dropped from 50.52 per cent to 40.65 per cent in 12 months.

Coinbase

But here’s where bitcoins have definitely increased, it’s El Salvador’s national cryptocurrency repository. Recall that in September, El Salvador became the first country in the world to give Bitcoin legal tender status on its territory. Meanwhile, the country’s president, Nayib Buquele, is known for his support of the crypto industry and recently proved his commitment to Bitcoin once again.

On his Twitter account, he criticised those who still question the El Salvadorian government’s policy on digital assets. Here is the official’s rejoinder, in which he shared his view of the situation.

What international organisations are calling the Bitcoin Experiment is nothing short of the world watching as the mass adoption of cryptocurrencies changes the country’s economy. If the change achieves its goal, conventional currencies are doomed. El Salvador is the spark that ignites a real revolution.

In other words, Bukele is confident that politicians in other countries will follow El Salvador’s example and take radical steps towards Bitcoin approval as well. Once this process reaches an avalanche effect, the cryptocurrency will become legal tender in most regions of the world. Even then, national currencies will lose their appeal and will likely go to the dustbin of history.


We believe that if this trend continues, then sooner or later the Bitcoin exchange rate will increase significantly. Still, the supply of coins will be declining, but the demand for BTC has been increasing lately. I want to believe, that it will happen during this coin niche growth cycle.

What do you think about it? Share your opinion in our Millionaire Crypto Chat. There we will talk about other topics related to the world of blockchain and decentralisation.