Is $88,000 USD for Bitcoin expensive? Instead of obsessing over the price, take a look at this set of real data that might blow your mind.

The total supply of Bitcoin is 19.68 million coins, as everyone knows. But there's a hidden trick—over 6 million coins have been lost due to lost private keys, permanently disappearing. That's equivalent to one-third of the global total being silently "sealed away."

As we dig deeper, the scenarios become even more interesting. Governments around the world hold over 1 million coins each, various ETF products lock in more than 1 million coins, BlackRock and a well-known tech company together have accumulated nearly 1.5 million coins, Satoshi Nakamoto's 1 million coins are almost untouched, and miners and long-term holders hold over 2 million coins.

After doing this math, you'll realize—actually, less than 4 million Bitcoin are truly liquid and circulating in the market.

When scarcity reaches this level, discussing whether it's expensive or not becomes a bit naive. The game rules have changed. The real question is: do you have chips on the global digital asset table? What fraction of this pool do your chips represent?

This is the shift from "price anxiety" to "share of the pie" thinking.

The reason Bitcoin's story attracts so many people is rooted in a simple, straightforward logic— in an era of unlimited fiat currency issuance, an absolutely deflationary asset will ultimately become the gravitational center of value. Sounds beautiful.

But reality is a bit more sobering. Bitcoin is like a rushing river—powerful, yet difficult to serve as a daily "value standard" and "trading tool." Everyone wants to board this ship heading to the future, but amidst the turbulent waves, a stable cabin is needed to avoid risks, complete transactions, and wait for calm waters.