The question of ‘the scale of global Bitcoin holders’ lies at the intersection of finance, technology, and global adoption. It not only reveals the extent to which Bitcoin has permeated mainstream economies but also hints at its future growth potential.
Companies are converting cash reserves into Bitcoin allocations, while individuals in emerging markets are using it as a hedge against inflation and a tool for cross-border remittances.
This article provides an in-depth analysis of the practical implications behind the numbers through the latest data on Bitcoin holdings, distribution patterns, and core trends.
01 Recent Developments
In 2025, a surge in U.S. spot Bitcoin ETFs and significant inflows of institutional funds have notably enhanced transparency in holdings. Companies and funds continue to expand their balance sheets, driving disclosure of treasury-level holdings.
Moreover, regulatory clarity in multiple countries has lowered barriers for investor participation, reshaping the landscape of holdings distribution. Bitcoin ownership rates in developed markets have increased, with the UK rising from 18% to 24%.
However, the increase in the number of owners does not signify widespread decentralization. On-chain data vividly confirms the concentration of wealth, with whale addresses still accounting for a dominant proportion.
02 Bitcoin Wealth Distribution
1. The base of small and medium investors is steadily expanding: Over 24.1 million addresses hold balances exceeding $100.
2. Increased participation of retail investors: 12.6 million addresses hold more than $1,000 worth of assets.
3. Growth in middle-class holders: 4.6 million addresses hold assets valued at over $10,000.
4. Concentration of high-net-worth early investors: 1.05 million addresses exceed $100,000 in holdings.
5. Formation of Bitcoin’s high-net-worth tier: 157,000 addresses hold more than $1 million worth of Bitcoin.
6. Oligopolistic structure persists: Only 19,142 addresses hold Bitcoin worth over $10 million.
Section 03: How many people own Bitcoin?
By 2025, approximately 106 million people globally will hold Bitcoin.
In the United States, 28% of adults (approximately 65 million) hold cryptocurrency assets, with 67% being male and 33% female. The average age of holders is about 45, with a lower prevalence among younger investors.
However, in many developing countries, the rate of Bitcoin ownership remains low. For example, the penetration rate in Africa is only 1.6%, indicating significant regional disparities.
Early technology enthusiasts still dominate, with highly educated and high-income groups having a higher probability of holding assets.
The distribution data by holder category shows that:
- Individuals hold approximately 65.9% of the Bitcoin supply,
- Funds account for 7.8%,
- Corporations hold 6.2%,
- Governments hold 1.5%,
Who Owns the Most Bitcoin
Private companies: holding 312,000 BTC (1.5% of the supply),
Block.one: exclusively holds 164,000 BTC (0.7%),
ETFs and related funds: hold 1,358,000 BTC (6%).
Governments Worldwide: Holding 463,000 BTC (2.3% of total supply).
Top 100 addresses control the vast majority of the supply.
A surge in the number of wallets holding at least USD 1 million worth of Bitcoin, accelerating institutional adoption trends.
Bitcoin Holdings by Institutions and Corporations
By August 2025, institutional holdings reached USD 414 billion, primarily driven by the adoption of ETFs and corporate treasury strategies.
- Corporate reserves surged by 40% in Q3, reaching a value of USD 117 billion.
- The lineup of publicly traded companies holding Bitcoin expanded to 172 firms, with total holdings exceeding 1 million BTC.
- MicroStrategy leads corporate holdings with 640,000 Bitcoins.
As of October 2025, US spot Bitcoin ETFs manage USD 169.48 billion in assets (representing 6.79% of market capitalization).
Strategic Bitcoin Reserve Confidence Index
- United States: 23% of non-holders stated that strategic Bitcoin reserves increased their confidence in the value of cryptocurrencies.
- United Kingdom: 21% of respondents expressed greater confidence due to the existence of reserves.
- France: Only 15% of non-holders reported increased confidence, the lowest among the surveyed countries.
- Singapore: 19% of participants expressed higher trust in the stability of cryptocurrencies.
- Italy: 16% of respondents stated that strategic Bitcoin reserves enhanced their confidence.
- Australia: 17% of non-owners became more optimistic about cryptocurrency value following the reserve initiative.
Bitcoin On-Chain Activity Overview
The global total of cryptocurrency users is projected to exceed 716 million by 2025, with an annual growth rate of 16%. Bitcoin holds the largest share among active network users.
As of October 2025, Bitcoin processed 504,508 transactions within 24 hours, equivalent to over 21,000 transactions handled globally per hour.
The daily average trading volume across the entire chain reached US$28.46 billion. Despite a trend towards address centralization, network liquidity has remained stable. The year-to-date daily average number of active addresses is 945,752, with the 30-day moving average slightly declining to 928,141 (a decrease of 1.86%).
The total number of monthly active addresses in the broader crypto space is approximately 181 million, but the actual number of active users ranges between 40 and 70 million, representing an increase of about 10 million compared to 2024.
Between 700,000 and 1,000,000 Bitcoin addresses are active daily, equivalent to approximately 300,000 to 500,000 unique users conducting on-chain transactions.
07 Sunk and Dormant Bitcoin Quantities
As of August 2025, approximately 19.88 million Bitcoins have been mined (accounting for about 94.8% of the 21 million cap), with an estimated 2.3 to 4 million BTC (11%-18% of the maximum supply) permanently lost.
Of note, during January to March 2025, around 62,800 Bitcoins with a coin age exceeding seven years were moved, marking a significant increase from 28,000 in the same period in 2024.
Long-term dormant wallets (tokens that have not moved for several years) continue to accumulate, signaling a steady rise in ‘sleeping supply.’ Whale addresses dormant since 2010 remain a focus of attention as their movement could potentially trigger market volatility.
A substantial portion of mined Bitcoins may never re-enter circulation, which could materially alter the effective supply landscape.
08 Core Drivers of Bitcoin Adoption
Approximately 65% of Millennials and Generation Z continue to express a preference for cryptocurrencies over traditional equity assets.
14% of non-holders plan to enter the market by 2025, while 67% of existing holders intend to increase their holdings.
India, the United States, Pakistan, the Philippines, and Brazil are leading the global wave of cryptocurrency adoption, with U.S. market activity surging approximately 50% year-on-year.
Cryptocurrency payment usage is expected to increase by about 45% in 2025, with half of small and medium-sized enterprises already accepting Bitcoin or stablecoin payments.
Nine out of ten executives from Fortune 500 companies are calling for the U.S. to improve cryptocurrency regulations, while six out of ten companies are exploring blockchain technology applications.
Moreover, despite 72% of investors holding higher education degrees, 40% remain skeptical about the security and practicality of cryptocurrencies.
Impact of Regulatory Environment on Portfolio Structure
In 2025, 64 jurisdictions worldwide advanced digital asset legislation, achieving a 43% year-on-year improvement in regulatory clarity.
Institutional adoption in regulated markets such as Singapore, Hong Kong, and the EU reached 2.3 times that of low-regulation markets. The U.S. issued four executive orders (including the Strategic Bitcoin Reserve in March 2025), driving Bitcoin’s price up by 35% since the policy was enacted.
The GENIUS Act (July 2025) established the first federal stablecoin framework in the U.S., mandating 100% reserves and monthly audits.
The CLARITY Act clarified the regulatory responsibilities of the SEC and CFTC over digital assets, ending a long-standing jurisdictional dispute.
The SEC New Rules (September 2025) have reduced the ETF approval cycle from 270 days to 75 days, improving approval efficiency by 72%, and accelerating institutional capital inflows.
As of August 2025, the asset management scale of U.S. cryptocurrency ETFs reached USD 1.56 trillion, with a net inflow of USD 29.4 billion in the first eight months. The number of cryptocurrency ETP products listed in the U.S. reached 76, representing a twelvefold increase compared to 2021 due to the easing of ETF policies.
According to data from the Financial Stability Board, 58% of G20 member countries have fully implemented cryptocurrency regulations (up from only 22% in 2023). Meanwhile, the G20 Risk Report warned that a lack of coordination in regulatory frameworks poses a significant global stability risk.
Future Outlook for Bitcoin Ownership Structure
By 2030, Bitcoin’s total market capitalization may exceed USD 15 trillion, with an expected price range of USD 829,000 to USD 999,000 per coin.
Influenced by increased institutional holdings through compliant channels, the retail investor share is projected to decrease from 85% in 2024 to 60% in 2030. After the 2028 halving event, 74% of the supply may be controlled by long-term holders who have held their coins for over a year.
Expert Insights
ARK Invest: Amid continuous institutional inflows, ARK’s BTC price targets for 2030 are USD 710,000 for the base scenario, USD 300,000 for the bearish scenario, and USD 1.48 million for the bullish scenario.
Coinbase CEO: Driven by U.S. regulatory policy and strategic Bitcoin reserves, Bitcoin may reach the USD 1 million mark by 2030. Currently, institutional holdings account for approximately 8% of the total supply, and this proportion is expected to exceed 20% by 2030 as ETF expansion and corporate holdings increase.
Cathie Wood: Accelerated by institutional endorsements and global integration, Bitcoin could rise to USD 1.5 million by 2030.
VanEck: Under the premise of regulatory coordination and corporate adoption, the price of BTC is expected to stabilize at the level of $300,000 by 2030.
AI Model: Driven by DeFi and mobile wallets, the global user base for Bitcoin is projected to exceed 100 million by 2027 and reach 250 million by 2030.
Conclusion
Despite data indicating significant growth in the number of Bitcoin holders, it remains a niche asset on a global scale.
The continuous accumulation of lost and dormant tokens, differences between Bitcoin holdings and broader crypto-asset ownership, as well as the interaction of regulatory frameworks and structural factors, collectively point to a complex yet promising future.
With institutional capital continuing to flow in and individual participation channels expanding, the next decade may reshape Bitcoin’s distribution structure, application scenarios, and market perception.
