Bitcoin that is definitely not for sale at the moment I would classify into three categories :
- What has been lost so far, and given that people are still prone to mistakes even today - in the first 5 years we are probably talking about millions that are no longer available.
- What long-term hodlers hold and do not want to sell at any price, because BTC is something they value more than anything else.
- What big investors have bought in the last 8-10 months and what is locked in some custodial cold wallets.
Sigh, you're right.
1. On what's lost, that's always been known (depending on estimates, but it's not changed much since 2015/16). As you said, the bulk of those "lost" coins happened in the first few years.
2. Also not a figure that's really changed. I believe long-term holders don't tend to add a lot, if I consider myself one, then I've only managed to grow at the same pace dollar wise, which BTC-wise means a slower and slower accumulation (just saving $10 a year ago and doing the same now is already a drop from 300,000 then to 20,000 sats today, sob).
3. This is the one that's going to rock the boat! Because they ain't done buying yet, and new big investors ain't done coming!
