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Bitcoin is about to hit a huge supply milestone. Sometime between March 9 and 10, it’s expected that the 20 millionth BTC will be mined, a huge moment in the network’s history. This means more than 95% of all the Bitcoin that will ever exist is already in circulation.

Bitcoin scarcity has started getting real as BTC supply across exchanges has continued to decline.

As Bitcoin (BTC) continues to mature as an asset class, investors are no longer just watching its price; they’re now paying close attention to who’s holding Bitcoin and for how long.