Analyst Coinmetrics considers that the current market supply of BTC at 18.3 million coins doesn't reflect real liquidity.
According to the information, 2.3M BTC is forever lost or concentrated in the hands of long-term investors. These coins did not move for more than five years.
A similar situation has developed with Bitcoin Cash. After the hard fork in 2017, 6 million BCH did not move. That reduces the exact market supply to 12.4 million BHC.
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The circulating supply of #Bitcoin is generally accepted to be 18.3M, but what if we said it was 16.0M? Does 16.0M $BTC better represent the amount of native units that are available in the market? pic.twitter.com/9Xm03jplm3
— CoinMetrics.io (@coinmetrics) April 6, 2020