Existing stock divided by annual new production; it describes issuance scarcity but does not by itself determine market price.
Stock-to-flow ratio is best understood as part of a system rather than as an isolated definition. Its related coordinates show the mechanisms, incentives and historical records that give the term practical meaning.
Stock-to-flow ratio is an analytical lens, not a slogan or automatic proof that every claim about Bitcoin is correct. Use it to trace scarcity, incentives, prices, time and human choice, then compare the reasoning with the protocol’s verifiable rules.
Understanding Stock-to-flow ratio helps distinguish a verifiable Bitcoin mechanism or historical record from slogans, products and market narratives.
For the clearest picture, read this entry together with 21 Million, Halving, Supply elasticity, Monetary premium.
Linked to related atlas coordinates
Grounded in a source record
Explains function and trade-offs
Part of the open Bitcoin knowledge graph