Bitcoin‘s scarcity is again at the center of discussion after prominent crypto entrepreneur Changpeng Zhao, widely known as CZ, highlighted growing concerns that even wealthy individuals may soon struggle to acquire a full Bitcoin amid tightening issuance and supply constraints.
Rising scarcity as mining nears completion
As of August 2026, Bitcoin mining operations have produced about 20.07 million out of the cryptocurrency’s total 21 million coin cap, leaving only around 4.4% of the maximum supply yet to enter circulation. This shrinking pool of new coins indicates a rapidly closing window for investors seeking to own an entire Bitcoin.
CZ, who formerly led Binance and remains a key influencer in the digital assets industry, drew particular attention to a gulf between demand and supply. He responded to cryptocurrency researcher Quinten Francois, who pointed out that the United States has 23.6 million millionaires. This surpasses the total possible supply of Bitcoin, meaning there are simply not enough coins available for each American millionaire to possess a single unit.
With over 20.07 million BTC already mined and millions potentially lost, there are now more US millionaires than there are whole Bitcoins available. This gap highlights the increasing difficulty for wealthy individuals to secure even one full coin.
Lost and inaccessible Bitcoin further limits availability
Adding to the challenge, CZ estimated that 10% to 20% of all Bitcoin ever mined may be permanently lost. Most inaccessible coins are thought to be unrecoverable due to forgotten passwords, destroyed hardware, or loss of private keys.
Such estimates echo earlier research cited by analyst Willy Woo, who indicated that approximately 1.57 million BTC have been lost through individual custody, compared to 1.51 million through exchange-related incidents. CZ has acknowledged that both self-custody and exchange storage carry risk, but observed that custodial exchanges statistically offer slightly better coin retention.
These factors combined mean the truly liquid, accessible supply of Bitcoin is even smaller than on-chain figures suggest, further intensifying competition among potential buyers.
Mini dictionary: Changpeng Zhao (CZ), a prominent figure in the cryptocurrency industry, founded Binance, one of the world’s largest digital asset exchanges by trading volume.
| Metric | Bitcoin (BTC) | US Millionaires |
|---|---|---|
| Total Supply | 21 million | 23.6 million |
| Mined (Aug 2026) | 20.07 million | – |
| Estimated Lost | 10% to 20% | – |
| Available (Est.) | 16–18 million | 23.6 million |
Price trends and long-term outlook
During the 24-hour period ending August 15, Bitcoin traded between $62,525 and $63,171. Over the previous week, the asset saw a decline of approximately 3.1%. Despite long-term optimism, the current trading price remains roughly 50% below its record high of $126,080, which was reached in October 2025.
CZ’s recent remarks have also renewed interest in his prior views on potential future price growth. In July, he described a possible scenario in which Bitcoin might reach $1 million during the 2033 cycle, emphasizing that such price milestones are dependent on widespread adoption rather than guaranteed projections. Other industry names, including Ark Invest CEO Cathie Wood and Mexican entrepreneur Ricardo Salinas Pliego, have echoed similar expectations for the asset’s appreciation.
Binance responds to sanctions with transaction restrictions
Separate from the discussion on scarcity, Binance recently announced transaction restrictions affecting 16 external cryptocurrency exchange platforms. This move follows the introduction of the European Union’s 21st sanctions package targeting Russia and action against entities named by the US Treasury Department in August.
The impacted platforms include names like HTX and EXMO. Binance’s restrictions will be incrementally rolled out, with the final group of 11 exchanges facing limitations by August 23. These compliance measures apply to all Binance users worldwide.
Supply limitations and regulatory compliance are now shaping the realities of digital asset ownership, as access narrows for both new investors and seasoned market participants.
