Way BEYOND Peak Wholecoiners? The Shocking Truth Revealed! 🤯

Hello everybody. About every two years I do a whole coinership video and I've been obsessed with Bitcoin since 2017 because of its scarcity. And I always imagined, you know, 21 million Bitcoin, maybe 21 million people can own it. But no, it couldn't be further from the truth. And every couple of years I break down what the actual number is based on a whole bunch of complex math. We'll look at some of it. We don't need to go into too much detail. We probably will actually so you understand why things are getting scarcer. Now, last time I did this was on the cusp of things like the Bitcoin ETFs launching and Sailor was nibbling, but nothing like today. And today we're going to break down the impact of that and how many true ho coal coiners there are on the planet. And if you are one, hang tight. Let's get into the story. This one is called not the number of hole coiners, but the reduced number of whole coiners. And I want to say a big thank you to TNT Tesla Sha D and everybody else who's here and Rodri and everybody else. Let's get into it. And uh shout out to Rio as well. I love that. Like Rio de Janeiro. best Patreon I've ever found. Thank you for being part of the team. Now, this is not financial advice. Doesn't really matter. Let's talk about the starting point. The easy way to think about it is, okay, there's 21 million bitcoin. 20 million have been mined. Global population about 8.2 billion people. So, from that you can construe some basic math of you know divide 8.2 billion by 21 million. That's your starting point. But it gets a lot more complex than that. A lot more. Now, this popped up on my radar because somebody on a thing called Reddit, whatever that is, I don't look at Reddit. I don't go there. But they said whole coiners will be 0.01% of the population. Huh, that's interesting. How is that possible? And when you think about it, it's like, hm, maybe, maybe. And last time I did this video, by the way, there was about 335,000 350,000 whole coiners, we're going to break down how much it is today, 2 years later, and a lot of people have been asking for an update on this. So, this is what's coming. And the interesting thing about Bitcoin is even though the demand may be high, you know, in other things like gold, demand finds supply. So if the price of gold goes up, they mine a bit deeper and get more gold. But with this, this has finite supply. This does not happen with Bitcoin. That's why it's so exciting. Book Horn, thanks for joining so early. Now, let's talk about some of the crazy things that are happening. And I've been tracking this too because every time there's a buy from somebody, whether it be Sailor or IBIT or FBTC or now Morgan Stanley's in on the game and Goldman Sachs is coming. Every time they make a buy, it denies whole coiners. So if you look at this for example, Micro Strategy has acquired 565,000 Bitcoin since I did this last video. Nearly 600,000 Bitcoin since I did this last video. What does that mean? Well, the easy way to think about it is 565,000 people have been denied whole coinership and then Black Rockck they sucked in 810,000 Bitcoin. So those two combined what you call that and all the other ETFs etc. 2.175 2.2 million Bitcoin have been removed from the system. Now what is the impact on whole co ownership? That's the magic question. Again, it's staggering. I know people think, "Oh, well, bare market and Bitcoin sucks and all that type of stuff, but when you look at the underpinnings of what's happening to the supply, it gets very exciting very fast, at least for me, but I like numbers." Now, let's look at some more numbers. Bitcoin addresses, you go to Bitcoin Magazine Pro, shout out to the team there. Bitcoin address with more than one Bitcoin. Last time I did this, it was about 1.1 million 1.075 million addresses with more than one Bitcoin. This is what trips people up. But even the number of dresses addresses with more than one Bitcoin has fallen down now today to 975,000. So that's lost, you know, over a 100,000 Bitcoin. Interesting. What's going on here? H obviously there has been an impact from treasuries from the ETFs and even governments. Now the other confusing thing that people confuse us like okay some claim 1 million people own a whole bitcoin or per this 975,161 addresses with more than one bitcoin but that's not true because remember this everybody unique addresses with one bitcoin is not equal to the unique number of people with one bitcoin and this is why we need to do some number crunching. Now, there's a thing called Xpub. I won't bore you with the details, but if you are a Bitcoiner, you probably know about this, and this will help you understand why. A single wallet can generate over 4 billion unique public addresses. And 99% of wallets generate a new public address to receive funds for maximum privacy. And counting addresses is highly inaccurate out there. Highly inaccurate. And even people are beginning to realize this as well. We figured this out a year ago. Shout out to SG one. And I hate the full name of course for privacy. One reason why Bitcoin wallets have increased is because of BRC20 and ordinals etc. That one person created four wallets just for the ordinals. Forget about sending and receiving Bitcoin. And that's an example of how they proliferate. And an Xpub, this is the important piece here. An Xpub can have many many different addresses. Another view of this too. Again, shout out to the Alturn. My camera so you can see the full chart here. Shout out to the Blockware team. While there are roughly say 1.15 billion unique public addresses, the estimated number of actual Bitcoin users or entities is around 106 million. And this gives an average number of 31 plus addresses per user. not one, not two, 31. And that changes a lot of the calculation as well as we go forward. So if you imagine number of addresses with more than one Bitcoin, 975,000, unique public addresses, 1.15 billion, estimated number of Bitcoin users, 106 million. Really active users is more like 50 million active wallets. And the average number of address per users 31.25. That is key to our math for what's coming next. Now before we jump into the math of how many hole coiners there are today which will shock you my friends who is denying the whole coiners. Well we have a good idea of who these players are from watching my channel etc. So you have uh lost Bitcoin, the Satoshi bag, plus all the people, you know, destroying hard drives, throwing them away in landfills, losing seed phrases, sending money to Bitcoin to dead addresses. And that drops the amount of supply down to 16 million. And again, 1 million hasn't been mined yet, so call it 15 million. As I say, people are losing Bitcoin every single day, and there'll never be more than 15 million Bitcoin. And I've been saying that now since 2020 and I'm very grateful that people are beginning to realize five million Bitcoin are lost. I spent years painstakingly tracking every lost amount, wallet and everything else and it's scary to see. Anyhow, institutional hoarding too. This is another big knock on supply. Obviously, US spot ETFs, public companies, micro strategy, Black Rockck, etc. But we'll break down exactly what it is. But there are other ways. All hope is not lost. Now I will step out for this. Whole coinership in the old days used to mean having your Bitcoin say in a cold storage wallet or maybe on an exchange. Heaven forbid that's very risky. That's one way of doing it. There is another way, but it's not pure form as I would call it. And this would be you're having say one whole Bitcoin in Micro Strategy as a proxy. You would need 427.7 shares for that to happen. I bit you need 1,764 IBIT shares for that to happen as well. You could be a whole coiner that way, but it's not really pure because you don't know if you know, heaven forbid I bet really has the Bitcoin or Micro Strategy really has the Bitcoin or something happens to them or it gets hacked or stolen or lost. That's the danger and that's why your self custody is so important if you're into that type of thing. Now the other things that are sucking on the supply like hear that big sucking noise eating it all up and excuse the formatting here of this particular slide but you look at the players uh we'll zoom in to the players here you got exchanges 2.6 million Bitcoin are held on exchanges Coinbase Bitfinex etc. But these these balances are also used by market makers. They're held by maybe some retail people who have no intention of selling because they don't want to do cold storage etc. You got your ETFs and funds say 1.2 million corporations 1.2 million Bitcoin governments 649,878 Bitcoin held by governments. The total of that is approximately 5.6 million Bitcoin. You think they're going to make that available to retail? No. So that's also a whole bunch gone. So 15 million less 5.6 million. You do the math under 10 million. And remember Samson M actually came out yesterday and he said point blank he said the 2.x million 2.6 million 2.5 million 2.3 million depending who's measuring it on exchanges are not for sale. Not for sale. People think oh sailor needs to buy another 2.3 million Bitcoin. He can just get them from exchanges. No, they're used by ODC desks, market makers, um, custody, etc. So, they're not purely for available for sale. So, shout out to Samson Mau as well. Now the other thing that's happening too fortunately ETF demand is accelerating just lately this is some data over the last five trading days in the last 15 days 30 days US spot ETFs have bought 19,000 Bitcoin over the last 5 days that's nine times the new supply in that period and institutional demand is rising again as Sailor said as well yesterday the winter is over let's not jinx thinks it. I hope he's right. And speaking of Sailor, this is crazy. Okay, so you talk about 34,000 whole coin is being denied on Monday alone. 34,164 Bitcoin, gone, grabbed by Michael Sailor and Micro Strategy. And that's on top of the 815,000 that they sucked out most over the last couple of years as well. The pace of them stacking is accelerating because of STRC. It is a crazy infinite glitch. And big thank you by the way Buckhorn BTC Maxi Max. Max Maxi Mike is here. Clint and Anglo Blackon. Long time no see Angela. But this is crazy. Again, 34,000 people denied in a day on Monday this week. Staggering. Anyway, let's get into the math now because you're all here for how many do exist. This is what gets exciting and what what rarified areas and this is the updated whole coiner math now two years ago at him back he said 1 million UTXOs with one Bitcoin or more we at peak whole coin status he said this 2 years ago guess what and he's a smart cookie let's go back to slide number eight was about 1.1 million in UTXO's uh I think it was slide 8 and that was two years ago. Today it's 975,000. So he was dead right peak UTXO is over over indeed. So shout out to Adam Beck as well and he himself is looking to grab more Bitcoin through one of his companies blockstream. Tada. Thank you. Now, a couple of key metrics as well. Again, addresses one bitcoin. I got to hammer this home because this is key to the math. Total unique addresses 1.5 billion bitcoin entities about 42 million from glass node. So, remember there could be a lot of addresses, but the entities are very different. And some entities have like some dust in it. Not a lot. Average addresses per entity has gone up to 35.9. It's not 31 anymore. Okay. Maybe because of ordinals and other stuff. And then Micro Strategy 815,000, Black Rockck 809,000 and all the other ETFs around the world have a ton as well. And the treasuries and the governments, etc. So just remember those numbers. It's not easy to get a Bitcoin. Now, here's the updated math. I won't bore you with the details, but if you want to pause the video and break it down for yourself, go right ahead. But basically here, the way I've been doing it for years, this is the updated math for 2026. Again, all of the data I ran through. The key thing here based on the number of adjusted entities, whether it's 31 or 35, 35.9, that's up to you to decide. And then there's a hidden whole coiners who basically sub one bitcoin address, but they stack up to one bitcoin. So imagine one person has 10 addresses and they all have 0.1 bitcoin. and they have it all spread around that becomes a whole corner because it's one entity that owns it. But the crazy thing, 2 years ago it was between per my calculations 335 to 350,000 whole coiners on the planet. Today the maximum number of whole coiners maximum is 235,000 and that's down 35 to 40% from my last study two years ago. Staggering. I knew and I warned in my last video the ETFs and the treasuries were going to reduce this number. Adam back said the same thing and here we are. It's become very little. So what does that mean again? I like to talk about rarified air and to be unique and strive to be in the top 1% of whatever knowledge. Knowledge doesn't matter anymore in the age of AI, but Bitcoin certainly does. But the percentage of humanity now with a whole coin is 0.0027% of humanity. And again, my estimate max is 235K, but probably 220 to 235K is the number of whole coiners on the planet. And this is shrinking every single day. It's going down. Okay. If I come back here in two years, if I'm around still and I come back and I do this again, we could be sub 200,000 Bitcoin or sorry, sub 200,000 whole coiners or maybe even a lot more. And that is staggering to think. Now again, this number is crazy. The other way to think about it is if you do have a whole coin, you're basically one in every 22,857 people. Imagine just walking through the streets of New York City and seeing all the crowds and you have a whole coin. Everybody you see walking through that city in that given day will not be in your rarified air. That's the difference. Wagabond and Nick, thank you. Now, there is a new thing as well which I always love this statistic because you imagine all of the millionaires on the planet and they suddenly say, "You know what? I'm gonna get me some of that whole coiner stuff. Yeah, good luck. They can't. It's gone. Poof. Again, whole corners 220k, 270k, 235k percentage of humanity. Again, there's at least 65 million 65 million millionaires. By the way, with the AI stocks going so high, so fast, this is probably more than 75 million millionaires in the world. Half of the employees at Nvidia are millionaires. Forget all the other companies. the Broadcoms, the AMDs gone on fire today, etc. They every time the stocks of these companies goes up $5, $10, it mints more millionaires. All the employees become very rich. So 8.2 billion people, uh, tiny amount of whole coiners and of the 65 million millionaires, only 0.36 of them can become a whole coiner today. So, if you are a millionaire out there and you have no Bitcoin, try get one and that'll put you in the 0.36 of the 65 million millionaires in the world. That for me is a crazy statistic. So, you can be a global elite member even without being a millionaire if you have one whole Bitcoin because per Kathy Wood, it's going to 1.5 million and we're hearing a lot of chatter now about supply crunch all over again. So that for me is very fascinating. And again, why why is there a huge reduction in whole coiners per my study two years ago compared to today over 100,000 gone? Where do they go? Well, ETFs absorbed a ton. Treasuries absorbed a ton. Then I hold 8.2%. Uh you've got the price, okay? You know, getting a whole coin at 10,000 or 7,000 or 4,000 back in 2020 is easier to do than getting one at 76 78,000 today. The price is 78,000 as we speak. And that is exceeds median annual income in most countries. In fact, the average wealth per human on the planet is $7,000. $7,000. The average wealth per human. And that's skewed heavily by the billionaires and soon to be a lot of trillionaires too. So that's an issue. And of course the lost coins eats into it as well. And the coins being sucked in by governments uh sovereigns etc. Crazy. Now the window has narrowed. Okay. We have a harder asset than ever before. Over 20 million have already been mined. Ton are lost. Um, and just to share some perspective, the whole cornership I've been talking about since I began this channel was very, very important to get to. But don't worry because now with the way things are, whole coinership is probably out the window for many. But even having 0.1 to 0.2 or even half of Bitcoin is extremely elite again, thanks to lost coins and accumulation, etc. It's crazy out there. So, don't give up hope at all. And finally, again, if you do have one, you are special. That's the ultimate achievement. All these videos are turned into podcast and emails. I want to thank every for being here. The Mazda Chad, Nick, Wagabond, Angel Black, Clint, Bitcoin, Maxi, Mike, Buckhorn, and everybody else. Quick one today. I've got some things going on. Hope you enjoy. Well, I hope got a good friend actually in Beijing and he always wants an update on this one because our Chinese friend has a whole coin and he always wants to know what rarified air he's in. So, there are people hopefully out there. It's worth getting some if you don't have any. And if you have one whole coin, lock it down. Make it very secure. Do not lose it because it's going to be worth a lot in the future. Thank you so much TNA Shondi Cipher Sniper K8 and everybody else for being here. Have a good Friday. Bye.