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In a recent discussion of the circulating supply of XRP, David Schwartz, Ripple’s CTO, compared Bitcoin and coins attributed to its mysterious creator, Satoshi Nakamoto. His notes Highlight The complexity of defining what constitutes “circulating supply” in the cryptocurrency landscape.
One X user drew attention to the discrepancy in the circulating supply of XRP reported by cryptocurrency rating platform CoinMarketCap and popular XRP explorer XRPScan.
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CoinMarketCap Reports The current circulating supply of XRP is 57.64 billion XRP, while according to a screenshot shared by User X, XRPScan reported 62.23 billion XRP.
Addressing this speculation, Schwartz explained that “how you measure circulating supply depends on what you consider to be in circulation and what you do not consider to be in circulation.” He continued, “To draw an analogy with Bitcoin, are Satoshi’s bitcoins being traded? Even reasonable people might disagree about which bitcoins are owned by Satoshi.”
Satoshi owns Bitcoin in the spotlight
The analogy made by Ripple’s CTO is particularly relevant given that Satoshi Nakamoto is believed to own more than 1 million BTC, which has remained the same since the early days of Bitcoin. While these currencies technically exist on the blockchain, many in the cryptocurrency community believe they are primarily out of circulation due to inactivity.
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According to CoinMarketCap, the total circulating supply of Bitcoin currently stands at 19.81 million BTC, with a maximum supply of 21 million BTC.
Ripple’s XRP holdings are divided into two categories: XRP currently available in its wallets, and XRP subject to escrow holds on its ledger that will be issued monthly over the next 42 months.
For this last category, Ripple does not have access to this XRP until escrow issues it to them monthly. Every month, the remaining XRP issued is returned to the escrow account.
