Retail Bitcoin holdings drop to 17% as wealthier entities dominate

Everyday minnow Bitcoin holders control only a fraction of the top digital asset’s total circulating supply despite its vision of financial decentralization and autonomy.

According to a May 14 report from blockchain analytics firm Santiment, retail wallets holding less than 10 BTC collectively own just 3.47 million coins, equivalent to 17.5% of Bitcoin’s circulating supply. This group has approximately $358 billion worth of BTC in dollar terms.

A closer look at the distribution shows an even greater imbalance.

According to the firm, wallets with less than 1 BTC, typically representing smaller retail participants, account for under 7% of the total supply.

Bitcoin Holders Classifications (Source: Santiment)

Large Bitcoin holders dominate

Meanwhile, Santiment’s analysis points to a strong Bitcoin concentration among wallets between 10 and 10,000 BTC.

According to the firm, this group controls over 68% of the total supply, equivalent to more than 13.5 million BTC. In dollar terms, their holdings are worth $1.39 trillion.

The group includes early adopters, institutional players, high-net-worth individuals, and centralized exchanges.

Within this cohort, wallets holding 100 to 1,000 BTC own around 23.5% of the supply, while those with 1,000 to 10,000 BTC account for an additional 22.8%.

Meanwhile, crypto exchanges like Binance and Coinbase also hold significant BTC. These exchange wallets have more than 7.4 million BTC, making them key drivers of market liquidity and price action.

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