Edition of 2026-08-15
Who holds the coin — households, companies, or funds.
Not another Strategy leaderboard. The picture is the split. Retail is whatever is left after we name the institutions and haircut the lost coins.
BTC spot
$62,979
CoinGecko, 2026-08-15
Circulating
20,070,534
CoinGecko
Named institutions
2,302,467
Corporates + IBIT floor + gov
Implied retail
14,068,067
70.1% of circulating
Circulating supply, stacked
- Implied retail14,068,067 70.1%
- Lost (assumption)3,700,000 18.4%
- Corporate treasuries1,282,501 6.4%
- Funds (IBIT floor)802,823 4.0%
- Governments (incomplete)217,143 1.1%
Inside institutions
Corporate treasuries hold BTC on their own balance sheet. Funds hold it for clients. We do not mash them into one “institutional” blob.
Corporates 1,282,501 · of which vehicles 125,006 · IBIT floor 802,823
Treasury vs funds →Retail is a residual. Funds are a stale floor (IBIT last cited April 2026). Do not treat this as a census. Strategy’s own site is the source for 840,447 BTC. The company file is CoinGecko’s public treasury API (179 names, 1,282,501 BTC).
Flippening
When retail stops being the majority
Reconstructed history plus three labeled forecasts. At the recent pace the 50% line is around 2031. That is arithmetic on a residual, not a prophecy.
Open the chart →Latest notes
2026-08-15
Strategy prints 840,447 BTC on its own dashboardThe company’s public metrics page is the primary source for the largest corporate stack. That is the number this site uses — not a third-party scrape.
2026-08-10
Strategy 8-K: a 1,690 BTC reduction in the ledger weekThe bitcoin ledger lists an 8-K for the week of 10 August 2026 showing a 1,690 BTC decline. Corporate treasuries can shrink. The chart should be allowed to go down.
2026-07-30
Strategy skips a third week of buyingHoldings were reported unchanged at 843,775 BTC around 30 July while the company raised cash against a weak coin. Treasury policy is not a one-way bid.
2026-06-09
Spot ETF complex held through a 50% drawdownReporting on FBTC and the ~$100B ETF complex: redemptions were milder than the coin. Funds and households are not the same animal in a drawdown.