Bitcoin’s Scarcity and Upcoming Halving Event
Changpeng Zhao, the CEO of Binance, has reignited the ongoing discussions surrounding Bitcoin’s scarcity as the next halving event approaches. In a recent statement, Zhao highlighted the deflationary characteristics of Bitcoin and suggested that its actual supply might be even more limited than previously understood.
Current Bitcoin Supply and Potential Losses
According to Zhao’s calculations, approximately 20.07 million Bitcoins had been mined as of August 2026, out of a capped limit of 21 million, which translates to about 4.4% still left to be unearthed. However, he raised the possibility that the number of Bitcoins effectively available in the market could be lower than this mined figure, raising concerns about the cryptocurrency’s actual scarcity.
Implications of Lost Bitcoins
Zhao posited that between 10% and 20% of the Bitcoins that have been mined might be permanently lost—due to various reasons such as lost private keys or wallet access issues—implying that a significant portion of the existing supply could be inaccessible.
This situation might lead potential traders to find that the real number of Bitcoins they can buy or sell could be significantly diminished compared to what has been mined so far, heightening the asset’s perceived scarcity.
