Trading Education Platform SystemSubscribe for Free
Reality Check / Bitcoin
REALITY CHECK · PILOT · VERIFIED 7 OCT 2026

Bitcoin BTC

Strong evidence Evidence 100%

100
Evidence score: what we could verify, not a forecast
What can be checked

Key facts

TeamNot applicable
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 source
Legal entityNot applicable
Why

No company, foundation or other legal entity issues or controls Bitcoin; the whitepaper states there is 'no central authority to issue' coins.

source
Independent auditPublished
Why

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.

source
Control riskNo privileged key
Why

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 source
New supply, next 12 months0.82%
Why

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 source
Revenue evidenceCheckable on-chain
Why

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).

source
Market context

Price beside proof

Market cap$1.67Trank 1 · 7 Oct 2026
Fully diluted value$1.68T
Annual fees (DefiLlama)$76.57M
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.

Market cap per $1 of fees21,870 x
Top 10 holders (not scored)6.01%
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.

Listed on KrakenYesKraken audit

Context only: not scored and not a valuation. Aggregator data as of 7 Oct 2026.

Price and a what-if

Today's price, and what it would take

Price$83,339.85snapshot 7 Oct 2026
Last 30 days

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).

What-if lens: which price does a multiple of fees imply?

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.

Implied price

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.

Score breakdown

Where the points come from

Accountabilitynot applicable
Team: not applicable. 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.; Legal entity: not applicable. No company, foundation or other legal entity issues or controls Bitcoin; the whitepaper states there is 'no central authority to issue' coins.
Code and audits20 / 20
Independent audit published: yes; Latest audit: 2025-11-19; Source code public: yes
Control risk10 / 10
No privileged key found that can change rules, mint or freeze outside open consensus
New supply10 / 10
New supply entering circulation in the next 12 months: up to 0.82% of supply
Verifiable revenue10 / 10
Fees can be checked on-chain
Security record15 / 15
No incident found in our search (not an exhaustive guarantee)
Compliance record15 / 15
No regulator or court action found in our search
Track record

Incidents and legal actions

Incidents

  • None found in our search.

Regulator and court actions

  • None found in our search.
Limits

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. [1] CoinGecko Bitcoin page (price, market cap, FDV, rank) accessed 2026-10-07
  2. [2] Kraken Bitcoin price/listing page accessed 2026-10-07
  3. [3] DefiLlama fees API, Bitcoin (fees and revenue) accessed 2026-10-07
  4. [4] Bitcoin whitepaper, Satoshi Nakamoto accessed 2026-10-07
  5. [5] Bitcoin Core repository (MIT license) accessed 2026-10-07
  6. [6] OSTIF: Bitcoin Core audit complete (Quarkslab, 2025-11-19) accessed 2026-10-07
  7. [7] BitInfoCharts richest Bitcoin addresses (read 2026-10-07 21:00 UTC) accessed 2026-10-07
  8. [8] Bitcoin Wiki: Controlled supply accessed 2026-10-07
  9. [9] Bitcoin Core security advisories accessed 2026-10-07
Questions

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.