According to @Andre_Dragosch, institutional investors have purchased about 30,000 BTC year to date in 2026 while roughly 5,700 BTC have been mined, placing institutional demand at around six times new issuance, source: @Andre_Dragosch on X, Jan 14, 2026. This implies a net absorption of approximately 24,300 BTC beyond fresh supply so far in 2026, evidencing a concrete supply demand imbalance relative to mining output, source: @Andre_Dragosch on X, Jan 14, 2026.