Realized Cap by Output Creation Year
- 1M1M
- 3M3M
- 6M6M
- 1Y1Y
- ALLALL
- ValueValue
- ShareShare
About this metric
What it measures
Realized Cap by Output Creation Year groups unspent transaction outputs by the calendar year in which they were created. Each output contributes its BTC amount multiplied by the USD price at creation, so the year-labeled series, such as 2021 and 2024, show surviving cost basis in USD rather than current market value.
How to read it
A large year group means much of the recorded dollar cost basis remains in outputs created that year. The current year grows as new outputs are created, while completed years shrink when their outputs are spent. For example, the 2021 series stood near $401.4 billion at the end of 2021 and about $52.59 billion on October 17, 2026, showing how that vintage was gradually replaced.
Creation year marks the latest output creation, not the year a bitcoin was mined or its owner first invested. Internal transfers also replace outputs and refresh the recorded cost; cheap early coins consequently carry little USD weight even if many remain. Compare this with BTC supply by creation year to separate coin quantity from valuation.
- Frequency
- Daily (UTC 00:00)
- Asset
- BTC
- Category
- Supply
- Type
- Breakdown
- Unit
- USD
- Data since
- 2009-01-03
- Latest data
- 2026-10-27
FAQ
Is Realized Cap by Creation Year the amount invested during each year?
No. It values the outputs from that year that are still unspent at each observation date. Outputs already spent leave the group, so the series is neither annual trading volume nor a cumulative record of money invested.
Why does an old year's realized cap decline after the year ends?
Spending an output removes its historical cost from that year's group. Replacement outputs enter the year in which they are created, at the price then prevailing, even when the owner simply rearranges a wallet.
How is this different from Realized Cap HODL Waves?
Creation-year groups use fixed calendar labels such as 2021 and 2024. Realized Cap HODL Waves use rolling ages such as 1y–2y, so unspent coins migrate between age bands merely as time passes.
