BTC US M2 Money Supply vs BTC: $22.21T
How many dollars exist in the US economy — cash, current accounts and savings added together — drawn against Bitcoin's price. When the dollar supply grows, risky assets have historically followed with a delay.
M2 is the standard measure of the US money supply: notes and coins, current accounts, savings accounts and small deposits. It is the broad total of spendable dollars in the economy.
The comparison is the point: both lines climbing together means new dollars are finding their way into risky assets. For example, M2 growing from $21 trillion to $22 trillion over a year means about 5% more dollars chasing the same assets — Bitcoin's biggest rallies came in years when this line expanded quickly, and its worst year came when the line shrank in 2022.
The connection is loose and slow, not a rule.
The published US M2 money supply in dollars, drawn with bitcoin's price on the same chart for comparison. Nothing is calculated on our side.
M2 is published weekly and always a little behind, so the last few days on the chart repeat the most recent available reading. It is one country's money supply, while bitcoin trades worldwide.
charts.bitcoin.com free API (US M2, official FRED series interpolated daily), ingested by our macro worker; BTC price from our warehouse.
charts.bitcoin.com M2 series · full history 2010+