[Institutions purchased 690,710 Bitcoins this year, while only 109,072 Bitcoins were mined during the same period] According to a report by Jinse Finance, a chart published by Bitcoin Archive shows that institutions purchased 690,710 Bitcoins (BTC) this year, while only 109,072 Bitcoins (BTC) were mined during the same period—data source: Bitwise. This means the demand is six times the supply.