Bitcoin's Ancient Supply Surges Past New Issuance: A Game-Changing Shift

Post-Halving Dynamics Reshape Bitcoin's Scarcity Narrative

Holy moly, Bitcoin fans! We're witnessing a first in the crypto world: the amount of BTC chilling untouched for a decade or more is now skyrocketing faster than the network's cranking out new coins. Talk about a plot twist!

This wild shift kicked off right after the April 2024 halving, and it's a total game-changer for Bitcoin's supply dynamics. According to a juicy report from Fidelity Digital Assets on June 18, an average of 566 BTC a day is diving into the "ancient supply" pool, meaning these coins haven't budged in 10 years or more. That's way more than the post-halving daily issuance rate of 450 BTC. Fidelity's analysis is blowing our minds, showing how these long-term holders are flipping Bitcoin's scarcity narrative on its head in real-time.

These dormant coins? They're like a badge of honor, a sign of hardcore belief in Bitcoin. Or, in some cases, they're just lost forever thanks to misplaced private keys. Either way, the numbers are screaming at us!

Hold onto your hats: over 3.4 million BTC, that's more than 17% of the total supply, have been snoozing for at least a decade. We're talking about coins mined back in Bitcoin's wild west days, with none other than Satoshi Nakamoto himself being the OG 10-year holder since January 2019.

This isn't just some feel-good story. Fidelity's pointing out that fewer than 3% of days since 2019 have seen a dip in ancient supply. Plus, the number of coins held for five years or more is barely dropping compared to how often it's climbing.

And get this: public companies are jumping on the long-term holding bandwagon. As of June 8, 27 listed firms were hoarding over 800,000 BTC combined. If this keeps up, projections say ancient supply could make up a whopping 30% of all circulating Bitcoin by 2035!

But hold up, it's not all smooth sailing. Since the 2024 U.S. election, the report's showing that ancient supply has taken a hit day-to-day 10% of the time, which is about four times the historical average. For those holding for five years or more, that volatility's even wilder, with 39% of days showing net outflows.

These ups and downs are a big part of why Bitcoin's price has been all over the place in early 2025. It's a wake-up call that even the most dedicated long-term holders can get spooked when markets get shaky. Fidelity's reminding us that scarcity alone isn't calling all the shots on price.

But here's the kicker: when issuance is shrinking and long-term supply's tightening, there's a better shot at upward price pressure. And if institutional investors and those new ETF products start really getting in on the action, buckle up, because things could get seriously exciting!