Current S2F Ratio
122.4
Harder than Gold (~62)
S2F Model Target
$112,450
Epoch 4 Model Price
Live Spot Price
$77,229.81
Mainnet Sync Active
Deflection Ratio
0.68
Undervalued (< 1.0)
Interactive S2F Deflection Calculator
Adjust hypothetical spot prices to calculate model deflection multiples
Circulating Stock (S):
20,105,778 BTC
Annual Emission Flow (F):
164,250 BTC/yr
Calculated S2F Ratio:
122.41 years
Calculated Deflection Multiple
0.68x
MODEL STATUS: UNDERVALUED (0.68 < 1.0)
0.2x (Extreme Undervaluation)
1.0x (Fair Value)
3.0x (Extreme Bubble)
Macro Commodity Scarcity Comparison
Evaluating Stock-to-Flow ratios across gold, silver, and Bitcoin halving epochs
| Asset / Era | Stock (Existing) | Flow (Annual) | S2F Ratio | Annual Inflation |
|---|---|---|---|---|
| Gold (Physical) | 209,000 Tonnes | 3,500 Tonnes | ~59.7 | 1.67% |
| Silver (Physical) | 550,000 Tonnes | 25,000 Tonnes | ~22.0 | 4.54% |
| Bitcoin (Epoch 4 - Active) | 20,105,778 BTC | 164,250 BTC | 122.4 | 0.82% |
| Bitcoin (Epoch 5 - 2028 Projected) | 20,593,750 BTC | 82,125 BTC | 250.7 | 0.39% |
Frequently Asked Questions
Essential questions regarding Stock-to-Flow model calculations.
What is the Bitcoin Stock-to-Flow (S2F) Model?
The Stock-to-Flow model measures scarcity by dividing existing stock (total circulating Bitcoin supply) by annual flow (new Bitcoin mined per year). Higher ratios indicate greater monetary hardness.
What does the S2F Deflection Ratio mean?
Deflection is calculated as actual spot price divided by the theoretical S2F model price. A deflection above 1.0 indicates overvaluation relative to the model, while a deflection below 1.0 indicates undervaluation.