The Great Supply Drain

The-Great-Supply-Drain

2023–2024 marks the watershed moment for the rapid depletion of Bitcoin reserves on exchanges.

The data is clear: exchange inventory—whether measured by year or by month—is heading one direction -- down mostly. The supply is being drained. The question is: Who is buying?

- BlackRock (IBIT): Launched its Spot ETF in 2024; assets under management continue to explode.

- Strategy: Aggressively issuing debt to stack sats; now controls approximately 4% of the total supply.

- Morgan Stanley (MSBT): Rolled out a low-fee ETF, instantly sucking in $100 million upon listing.

- Charles Schwab: Opened the gates to direct Bitcoin trading for its 46 million clients.

- Goldman Sachs: Filed for a Bitcoin Covered Call Yield ETF.

And the list can go on and on. 

This indicator isn't here to tell you when to buy or sell. It is simply stating a fact:

Bitcoin is becoming increasingly scarce.