Public Keys Expose 6.26 Million Bitcoin, or 31.2% of Supply

About 6.26 million Bitcoin (BTC), equal to 31.2% of its supply, is held in addresses with exposed public keys, highlighting the scale of on-chain exposure across the network as of Oct. 9.

Address reuse accounts for approximately 4.33 million BTC in exposed holdings. Another 1.94 million BTC is tied to script types, including Pay-to-Public-Key (P2PK) and Taproot, that directly reveal public keys.

About 1.79 million BTC in exchange holdings have exposed public keys, representing 57% of identified exchange holdings. That share was 55% in May.

The current share of exposed Bitcoin is up from 24.8% in early 2021. Public-key exposure describes information visible on-chain; it does not mean the assets have been attacked or serve as a security assessment of exchanges or custodians.