According to the source, Bitwise reports that institutional investors purchased about 30,000 BTC year-to-date in 2026 while roughly 5,700 BTC were mined over the same period, a demand-to-new-issuance ratio of approximately 6x and net absorption of about 24,300 BTC (source: Bitwise). The figures compare 2026 institutional purchases with contemporaneous mining output, indicating institutional demand outpacing newly created supply in January 2026 (source: Bitwise).