Balance Sheet

% of total BTC supply (/21M)

Share of the 21M ultimate supply held by corporates.

What the term means

% of total BTC supply (/21M) expresses aggregate public-company Bitcoin holdings as a share of Bitcoin’s fixed 21 million cap.

(Total corporate BTC holdings ÷ 21,000,000) × 100

The result is a live percentage (for example, 4.98%, 5.12%, 6.37%) shown on treasury dashboards. It tracks how much of Bitcoin’s immutable supply corporates have removed from circulation.

Why the term matters for Bitcoin treasury companies

Supply-constraint accelerator

Every 0.1% increase tightens circulating supply while miners add only ~900 new coins per day. Crossing 5%, 10%, or 15% creates visible supply shocks that push BTC higher and permanently re-rate treasury multiples.

Game-theory prisoner’s dilemma

Once corporates own 5%+, no CEO can afford to sit out. The metric is a public scoreboard—“If we don’t grab the next 0.2%, someone else will.” It forces aggressive raises and stacking, reinforcing adoption flywheels for everyone.

Monetary-policy narrative shift

At 5%, headlines read “Corporates now hold more Bitcoin than ETFs or governments.” At 10%, corporates become the new global vault. Central banks, sovereign funds, and finance ministers start quoting the percentage in official statements.

Institutional and sovereign FOMO trigger

Pension funds and nation-states benchmark allocations against the corporate share. Crossing 7–10% forces board-level reviews: “Why do corporates own 10% and we own 0%?” The percentage is the catalyst for trillion-dollar sidelined capital.

Premium sustainability anchor

Rising corporate share justifies structurally higher mNAV multiples. Tier-1 treasuries move from 2× to 4×, mid-tier from 1.2× to 2.5× as scarcity becomes permanent. Stalling percentages trigger sector-wide compression even for leaders.

Takeover and consolidation math

At 10%+, the aggregate holdings are too large for corporate raiders, inviting nation-state buyers or mega-cap acquirers. Sub-1× mNAV laggards suddenly represent hundreds of billions in arbitrage.

Liquidity and options justification

A higher percentage concentrates liquidity into a handful of tickers, enabling $100 billion+ combined options OI and gamma loops that let treasury stocks trade as primary Bitcoin venues.

Historical milestone rocket fuel

Round-number crossings (5%, 10%, 15%) dominate global media, triggering CEO FOMO and viral adoption waves. Each milestone reprices the sector higher.

Long-term endgame proof

On current trajectories, corporates could own 20–30% by 2035. The percentage proves Bitcoin’s monetary policy is enforced by the most incentivized stackers on earth.

Bottom line

% of total BTC supply (/21M) is the scarcity kill counter. Rising fast = supply shock, premium expansion, sovereign validation. Flat or falling = narrative crisis and multiple compression. When it crosses 10%, Bitcoin treasuries become a permanent fixture of global finance.

How BitcoinQuant incorporates it

We divide aggregated corporate BTC balances by 21 million—Aggregate BTC ÷ 21,000,000. The percentage powers scarcity scorecards, milestone alerts (5%, 7.5%, 10%), and policy-facing dashboards comparing corporate ownership to ETFs, sovereigns, and miners.