Sovereign Reserves % of SupplyTRINITY EXCLUSIVE
All government Bitcoin as a percentage of total (21M cap) and circulating supply. Tracks the evolving influence of sovereign holders on Bitcoin's supply dynamics.
Trinity exclusive model
This metric is a proprietary Trinity Insights model. Its formula, inputs, weights and parameters are NOT disclosed. The page documents only the output (bounded scale, interpretation zones, historical context). Access to the score and its time series is via the REST API and the MCP server, subject to the required tier.
What is it?
Shows what percentage of Bitcoin's total supply (21M cap) and circulating supply is held by governments. Two lines track both metrics over time.
How to read
Two lines on the same axis - primary (gold) shows % of 21M total supply cap, secondary (violet) shows % of circulating supply. The gap between the two lines widens over time as more BTC is mined (circulating approaches 21M). A rising trend means governments are accumulating faster than new BTC is mined.
Key zones
Below 1% = minimal government presence. Above 2% = significant sovereign allocation.
What to observe
The gap between % of total vs % of circulating widens as more BTC is mined. Both trending up = governments outpacing issuance.
Historical context
Government holdings have grown from near 0% at Bitcoin's inception, with a step-change after the Silk Road seizures (2013), and continued accumulation through subsequent cycles - reflecting Bitcoin's gradual integration into sovereign treasury strategies.
Expert notes
⚠️ Trinity Exclusive Model - This metric understates true government exposure - some countries may hold BTC through sovereign wealth funds or state-owned enterprises not tracked here.
Common mistakes to avoid
The 21M denominator is theoretical - approximately 4M BTC are estimated to be permanently lost, making the effective % higher.
Programmatic access
REST API
curl -sS \
'https://api.trinityinsights.io/api/v1/macro-intelligence/sovereign-btc-pct-supply/history?days=90' \
-H 'X-API-Key: $TRINITY_API_KEY'MCP server
{
"tool": "get_chart_value",
"metric_id": "sovereign-btc-pct-supply",
"timeframe": "1y"
}Required tier: pro. See the pricing grid for the tier list and the MCP documentation for multi-client configuration.
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Institutional disclaimer
Trinity Insights is an educational and analytical tool. The metric above does not constitute investment advice. Trinity Insights is not a Crypto-Asset Service Provider (CASP) registered under MiCA Regulation (EU) 2023/1114. See the full disclaimer.