Crypto Briefing • October 8th 2026, 9:54 PM
Bitcoin address reuse leaves 4.33M BTC with exposed public keys
Key Summary
According to Glassnode analysis, 4.33 million BTC, or 21.5% of the circulating supply, is held in reused Bitcoin addresses, exposing 6.26 million BTC, or 31.2%, of the total supply. This has increased by 14% recently, with the majority of exposure coming from operational reuse and older address types. Exchanges also hold a significant amount of BTC under visible keys, with risks of cyberattacks and regulatory attention increasing.
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Exposed Supply
The analysis from Glassnode reveals that the balance held in reused Bitcoin addresses has climbed to 4.33 million BTC, roughly 21.5% of circulating supply.Structural Exposure
When you combine reuse with older and structural address types, the total amount of BTC behind visible public keys reaches 6.26 million BTC, or 31.2% of total supply.Operational Exposure
Glassnode's breakdown splits the exposure into two buckets. The larger bucket is operational, meaning behavior: people and businesses reusing addresses. That accounts for the 4.33 million BTC.Exposure Rates
Exposure rates vary wildly by platform. Coinbase sits at around 10%, Binance at roughly 83%, and Bitfinex at 100%.Risks and Implications
For individual holders, coins held in addresses that have never been spent from keep their public keys hidden, while coins in reused addresses do not. The research flags that risks around cyberattacks and regulatory attention may increase, potentially leading to a reassessment of storage practices and a move to cold storage or other setups with better address discipline.#Bitcoin#US#Crypto#SEC#Glassnode