What’s your evidence? We have two separate measures, one higher than River’s and one lower. But this is in line with a lot of surveys actually. You “just know”? Fits also with etf, exchange numbers, hardware wallet sales and wallet downloads… (trust wallet alone has 200 million downloads) but you just know.

Agreed. In terms of unspent bitcoins, there are only roughly 150 million entries in the unspent transaction output set. And wallets that get used typically have several unspent transaction outputs.