Bitcoin Addresses Holding Over 0.1 BTC Haven’t Grown in Two Years, What Does This Mean?

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Since Bitcoin’s launch, the fig of addresses holding much than 0.1 BTC has climbed steadily done each marketplace cycle, until now. Data shows that addresses successful this cohort haven’t grown astatine each implicit the past 2 years, breaking a inclination that held for much than a decade.

The stagnation indicates a alteration successful however smaller and mid-sized investors prosecute with Bitcoin, even arsenic broader organization enactment successful the marketplace continues to rise.

Small Holder Participation Reaches A Standstill

The 0.1 BTC threshold has historically represented an important milestone for retail holders, ample capable to awesome committedness but tiny capable to stay wide attainable. For much than a decade, wallets crossing that enactment grew twelvemonth aft year, adjacent during drawdowns erstwhile semipermanent buyers were accumulating quietly.

That signifier is nary longer intact. The fig of addresses with much than 0.1 BTC has flattened since 2023 and is showing nary signs of returning to its erstwhile trajectory. Particularly, information from the on-chain analytics level Santiment shows that the fig of these addresses has stalled astatine astir 4.44 cardinal for the past year. This suggests that less caller participants are choosing to physique self-custodied Bitcoin positions astatine this level.

The stagnation becomes much notable considering Bitcoin’s rising mainstream visibility and repeated pushes toward caller all-time highs this year. In earlier cycles, specified conditions person led to a surge successful retail accumulation. This time, the code number has stayed frozen, and this means retail addresses holding Bitcoin mightiness really beryllium plateauing.

How Bitcoin’s Holder Base Is Changing

Although on-chain information points to a slowdown successful the maturation of wide Bitcoin addresses holding much than 0.1 BTC, it doesn’t needfully awesome a diminution successful wide adoption. For galore marketplace participants, Bitcoin vulnerability present happens wholly off-chain.

Larger capitalist cohorts, from high-net-worth individuals to funds and firm entities, are buying immense amounts of Bitcoin. For instance, Santiment information shows that ample Bitcoin holders controlling much than 100 BTC person accrued their balances passim 2024 and 2025, adjacent arsenic smaller code cohorts person stalled.

At the aforesaid time, much investors are choosing to entree Bitcoin through custodial avenues alternatively of managing their ain wallets. Spot Bitcoin ETFs person go 1 of the astir important gateways for caller BTC exposure. In the US alone, Spot Bitcoin ETFs present power almost $120 cardinal worthy of Bitcoin, with BlackRock’s IBIT consistently signaling the strongest demand.

Together, these developments constituent to a caller signifier successful Bitcoin’s development. What was erstwhile dominated by idiosyncratic self-custodied users is present progressively shaped by institutions, ETFs, funds, and professionally managed capital. Therefore, the numbers from on-chain wallet metrics bespeak a smaller information of the existent idiosyncratic base.