Rafael Schultze-Kraft, co-founder of Glassnode, estimated that more than 6.26 million BTC have exposed public keys on the blockchain, representing 31.2% of the circulating supply. This amount increased by 222,000 BTC since May 2026, while Bitcoin’s total supply grew by only 64,000 BTC over the same period. Exchange platforms contributed 123,000 BTC to this rise, bringing the total exposed Bitcoin on exchanges to 1.79 million BTC. Exposure varies significantly by platform: Binance shows 83% compared to approximately 10% for Coinbase and 100% for Robinhood. This rapid growth raises quantum-related concerns, as a sufficiently powerful quantum computer could theoretically derive private keys from visible public keys.
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