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More than 6 million BTC are held at addresses whose public keys have already been exposed on-chain, according to on-chain analytics firm Glassnode. CoinDesk reported the figure is equal to 31.2% of Bitcoin’s circulating supply.
Glassnode co-founder Rafael Schultze-Kraft said the amount of BTC with exposed public keys has increased by 222,000 BTC, or about $18.2 billion, since a report released in May. Over the same period, total Bitcoin supply increased by only about 64,000 BTC, while about 1.79 million BTC held by exchanges are currently estimated to have exposed public keys.
The analysis found no government-held Bitcoin in the U.S., UK, or El Salvador under this methodology to have exposed public keys. The report explained that public-key exposure does not immediately mean a wallet is at risk of being hacked, and the data measures whether public keys have been exposed based on how addresses are used. It added that no successful AI- or quantum-computing attacks on Bitcoin or Ethereum wallet cryptographic keys have been confirmed so far.