Is There a Massive Supply of Bitcoin on Exchanges?

The first 12 million were distributed at a time when it was really hard to access Bitcoin on exchanges. The aggressive supply schedule and the fact that Bitcoiners didn't have any other option but to really mine Bitcoin or get it from faucets which forced them to hold it is one of the underrated benefits of the aggressive supply schedule. There are 19.25 million Bitcoin on the market right now.