Part 8/14:
The supply-side narrative underscores Bitcoin’s unique hard cap of 21 million coins, with approximately 5 million estimated to be lost or unrecoverable. The circulating supply now stands around 19.6 million, with daily mining adding roughly 3,150 Bitcoins. However, huge institutional buying by ETFs—totaling nearly 22,000 Bitcoins this month alone—far exceeds new from mining, signifying potential supply constraints.