Investor Capitalization
- 1M1M
- 3M3M
- 6M6M
- 1Y1Y
- ALLALL
- เชิงเส้นเชิงเส้น
- ลอการิทึมลอการิทึม
เกี่ยวกับตัวชี้วัดนี้
สิ่งที่วัด
Investor Capitalization is Realized Cap minus Thermocap, the cumulative USD value of miner revenue at the time it was earned. Expressed in USD, it discounts the miner-revenue component from the network's aggregate on-chain cost basis to form a modeled investor capital base.
วิธีอ่าน
Growth indicates that the on-chain cost base is expanding faster than the miner component; declines mean the opposite. Investor Cap ranged from about $335.7 billion to $428.5 billion in 2022, and reached a record of roughly $1.043 trillion on November 26, 2025. Compare it with market cap and Realized Cap to put the size in context.
This is an accounting model, not a ledger of net fiat deposits or investor cash available to spend. Last-move prices are proxies for acquisition costs, miner revenue is not mining profit, and the early zero values overlap a period with no usable market-price history.
- ความถี่
- รายวัน (UTC 00:00)
- สินทรัพย์
- BTC
- หมวดหมู่
- ตัวชี้วัดออนเชน
- ประเภท
- ค่าเดียว
- หน่วย
- USD
- ข้อมูลตั้งแต่
- 2009-01-03
- ข้อมูลล่าสุด
- 2026-10-28
- จุดข้อมูล
- 6,508
คำถามที่พบบ่อย
Why subtract Thermocap from Realized Cap?
Thermocap accumulates the USD value earned by miners over time. Subtracting it separates a modeled miner component from the broader cost base; it does not identify individual miner-owned coins.
Is Investor Cap the same as active investors' average cost?
No. Investor Cap is an aggregate USD amount. An active-investor price model also divides a capital measure by an estimate of active supply to obtain dollars per BTC.
Does a trillion-dollar Investor Cap mean a trillion dollars entered exchanges?
No. It is a difference between two accumulated valuation measures. Transfers can reprice coins without a cash trade, so the amount cannot be interpreted as total exchange deposits or net money inflows.
