Illiquid Bitcoin supply climbs to 14.3M as holders tighten grip

Bitcoin’s long-term holders have reached a new milestone. According to data from Glassnode, illiquid Bitcoin supply hit a new record of 14.3 million BTC coins. 

In the last 30 days, 20k BTC were added to the millions of unmoved coins. This indicates strong accumulation from institutional and retail investors. Instead of selling after the BTC price dropped by 9.5% from the all-time high of $124,128, Bitcoiners proved they have diamond hands. 

Whales continue to accumulate Bitcoin

Data from CoinGecko shows that around 19.9 million BTC coins are in circulation. The unmoved 14.3 million coins represent 72% of the circulating supply. Illiquid Bitcoins are held by early adopters, crypto exchanges, exchange-traded funds (ETFs), and now institutional investors like Strategy and Metaplanet. 

Dormant Bitcoin wallets include those linked to the mysterious Satoshi Nakamoto. The Bitcoin creator is estimated to control 1.096 million BTC, untouched since 2009–2011. Other dormant wallets are estimated to hold 240,000 BTC. Some of these coins have been unmoved since 2011. Even with occasional reactivations like the recent transfers of 80,000 BTC from early whales, these coins remain overwhelmingly frozen. 

CoinGlass data show that Bitcoin percentage on centralized exchanges has been declining over the past 12 months. Last year, centralized exchanges held 2.82 million BTC coins. But as of today, this number has declined by 22.7% to stand at 2.18 million bitcoins. 

Institutional demand is on fire. Today, Metaplanet purchased 136 bitcoins worth around $15.28 million. The Japanese company has a total of 20,136 bitcoins in its treasury. Strategy, on the other hand, has been buying BTC aggressively. The American company, led by Michael Saylor, acquired 1,995 BTC today and paid a total of $217.4 million. That’s around $111,196 per BTC coin. 

According to CoinGecko, Strategy has the biggest Bitcoin treasury in the world. The company holds 3.040% of the overall supply of Bitcoin. At the moment, a total of 115 entities, comprising companies and governments, across 29 countries, are stacking Bitcoin heavily. The entities control around 1.496 million BTC coins.

Bitcoin has been moving sideways in the past week. The crypto king is up by 1% in the last 24 hours and trades at $112,346. The trading volume of BTC is standing at $33 billion, and the cryptocurrency has been moving in a positive direction in the last seven days.

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