Bitcoin BTC
Strong evidence Evidence 100%
Key facts
Why
No issuing or controlling organization exists and no company or foundation sold the coin. The creator published under the pseudonym Satoshi Nakamoto (whitepaper lists only that name and an email, no institutional affiliation). The software is developed in the open as Bitcoin Core; no issuer team is behind the token.
source sourceWhy
No company, foundation or other legal entity issues or controls Bitcoin; the whitepaper states there is 'no central authority to issue' coins.
sourceWhy
Quarkslab (three engineers) audited Bitcoin Core's peer-to-peer interface and affected components (mempool, block validation, transaction evaluation, chain state, peer management), May-Sept 2025, managed by OSTIF with support from Brink and Chaincode Labs. 16 findings: 2 low, 14 informational, none critical/high/medium. Scope was the P2P layer only, not the whole codebase.
sourceWhy
No issuer, foundation, admin key, mint function or freeze function appears in the protocol as described in the whitepaper and the Bitcoin Wiki: supply follows a fixed halving schedule (cap slightly under 21 million) enforced by consensus rules that every node validates. Rule changes require node operators to run new software. No privileged key was found; this is a reading of the protocol documents, not an on-chain key audit.
source sourceWhy
No unlock schedule or vesting; new coins are issued only as the block subsidy, currently 3.125 BTC per block (since the April 2024 halving). At the 10-minute target interval (52,560 blocks/year) that is about 164,250 BTC, i.e. about 0.82% of the 20,094,946 total supply (CoinGecko). The next halving (block 1,050,000) is not expected within 12 months. Actual block timing varies, so this is the schedule-based figure.
source sourceWhy
Transaction fees are visible on-chain and on DefiLlama (about 76.6M USD over the trailing year). They accrue to miners; there is no protocol or issuer revenue (DefiLlama revenue = 0).
sourcePrice beside proof
How measured
DefiLlama 1-year total of on-chain transaction fees (paid to miners). DefiLlama reports protocol revenue as 0 for Bitcoin (no issuer or protocol treasury receives fees). Fees figure is DefiLlama's trailing total1y, read 2026-10-07.
How counted
Sum of the ten largest addresses as listed by BitInfoCharts on 2026-10-07 (percentages 1.24, 0.8493, 0.7011, 0.6471, 0.4825, 0.4711, 0.4572, 0.3980, 0.3898, 0.3748), my own sum of the table. INCLUDES exchange/custody addresses: Binance cold wallets (2), Robinhood, Bitfinex (2, one labeled hack-recovery), Tether, plus labeled MtGox-hack and 'Mr.100' addresses and 2 unlabeled. Address-level figures, not individual holders. One earlier read of the same page showed address #2 at 229,835 BTC instead of 170,630 (which would give about 6.6%), so the figure moves between page loads.
Context only: not scored and not a valuation. Aggregator data as of 7 Oct 2026.
Today's price, and what it would take
Snapshot from the aggregator on 7 Oct 2026. To see the live price, press the button: it loads from CoinGecko and CoinGecko will see your IP address (see the privacy notice).
Pick a multiple of the last 12 months of fees. The tool shows the token price that multiple would imply with today's supply. The multiple is your assumption, not our estimate. Fees are tiny compared with the market cap (21,870 x), so this lens says little here: the price rests on something else.
Fees are what users pay, not what holders receive: how much reaches token holders depends on the design (burns, treasury, fee switches, validators). The result ignores issuance, risk, growth and time. A lens to ask questions, not a valuation or advice.
Where the points come from
Incidents and legal actions
Incidents
- None found in our search.
Regulator and court actions
- None found in our search.
What we could not verify
Not verified: (1) whether any Bitcoin Core advisory was exploited or caused losses (the advisories page does not say; none found elsewhere). (2) Audit scope is P2P only; no audit of the whole codebase was found. (3) FDV on CoinGecko is displayed rounded as 1.675T and mcap as 1,674,599,714,483 (the page's FAQ shows slightly different figures, about 266M apart); FDV is entered as the displayed rounded value. (4) Top-10 address share varies between page loads of BitInfoCharts (see detail); address labels are the site's own.
Facts as of 7 Oct 2026. Searches are not exhaustive. Report an error with a source: corrections policy. Education only, not investment advice.
Sources
- [1] CoinGecko Bitcoin page (price, market cap, FDV, rank) accessed 2026-10-07
- [2] Kraken Bitcoin price/listing page accessed 2026-10-07
- [3] DefiLlama fees API, Bitcoin (fees and revenue) accessed 2026-10-07
- [4] Bitcoin whitepaper, Satoshi Nakamoto accessed 2026-10-07
- [5] Bitcoin Core repository (MIT license) accessed 2026-10-07
- [6] OSTIF: Bitcoin Core audit complete (Quarkslab, 2025-11-19) accessed 2026-10-07
- [7] BitInfoCharts richest Bitcoin addresses (read 2026-10-07 21:00 UTC) accessed 2026-10-07
- [8] Bitcoin Wiki: Controlled supply accessed 2026-10-07
- [9] Bitcoin Core security advisories accessed 2026-10-07
Common questions about Bitcoin
Is Bitcoin a good investment?
This page does not say, and it is not investment advice. It shows what can be checked. In our pilot check, Bitcoin shows strong evidence, score 100 out of 100, with 100% of the evidence verified. Price and market value are context, not a valuation. Use the key facts and sources above and decide for yourself.
Who controls Bitcoin?
Control risk: No privileged key. Details and sources are in the key facts above.
Has Bitcoin been independently audited?
Independent audit: Published. Details and sources are in the key facts above.
How much new BTC supply is coming in the next 12 months?
New supply in the next 12 months: 0.82% of the current supply. Details and sources are in the key facts above.
Does Bitcoin have revenue we can check?
Revenue evidence: Checkable on-chain. Details and sources are in the key facts above.