95% of Bitcoin Is Gone, Institutions Still Waiting: Bitwise’s Matt Hougan Warns of Supply Shock

The post 95% of Bitcoin Is Gone, Institutions Still Waiting: Bitwise’s Matt Hougan Warns of Supply Shock appeared first on Coinpedia Fintech News

Bitwise CIO Matt Hougan just turned up the heat among the Bitcoin enthusiasts as he cites that 95% of Bitcoin is already locked up, while 95% of the world’s wealth hasn’t touched it. This scarcity showdown is set to ignite a massive price surge. 

With institutional interest ramping up and supply rapidly shrinking, Hougan believes we’re entering a multi-year bull run – and early holders might be in for the ride of a lifetime.

Hougan pointed out that Bitcoin’s annual supply growth is now only 0.84%, making it scarcer than gold. This was backed by Bitwise CEO Hunter Horsley, who described Bitcoin as the most limited store of value on the planet.

Out of Bitcoin’s fixed 21 million supply, just 5.7% is still available to be mined. And according to a recent Bitwise report, 69% of all circulating Bitcoin is held by individuals. Institutions and ETFs combined only control 10.5%.

This creates a tough situation for any government wanting to build a serious position in Bitcoin. Hougan summed it up clearly: if they want in, they’ll have to buy from individual holders.

During his talk at the Consensus 2025 Conference in Toronto, Hougan highlighted how demand is now racing ahead of supply. BlackRock’s Bitcoin ETFs, Michael Saylor’s MicroStrategy buys, and other corporate investments are flooding in at a rate that new Bitcoin supply can’t keep up with.