Glassnode Reports Record 35.4% of Bitcoin Supply Stored with Exposed Public Keys

Approximately 35.4% of total Bitcoin supply, or roughly 7.12 million BTC, is stored in addresses with exposed public keys, marking an all-time high, according to Glassnode. ChainQuery corroborated the finding, estimating exposure at 35.6%. Address reuse drives the majority of exposed supply at 25.8%, while exchange balances account for 11.6%. Exposed supply has climbed steadily from 24.8% in early 2021 and is up 1.08 million BTC from 30.2% in May. While quantum computers breaking elliptic curve cryptography do not yet exist, developers are considering draft proposals BIP 360 and BIP 361 to introduce post-quantum protections.