Investors currently hold 9,570,000 bitcoins in their personal wallets, which accounts for 45.6% of the total supply of the first cryptocurrency. These data were provided by experts from the River analytical platform. This volume exceeds the total reserves of coins held on exchanges and by custodial services. Of the total volume of self‑custody, seven million nine hundred and fifty thousand bitcoins, or thirty‑seven and nine‑tenths percent of the supply, were classified by analysts as reserves of coins in active wallets. Another one million six hundred and twenty thousand bitcoins, which accounts for seven and seven‑tenths percent, are considered irretrievably lost by on‑chain experts. Over ninety percent of the losses occurred before 2011 inclusive.

Centralized crypto exchanges currently hold two million nine hundred and ten thousand bitcoins, or thirteen and nine‑tenths percent of the total supply. Third‑party custodial services control four million six hundred and sixty thousand coins, which amounts to twenty‑two and two‑tenths percent. Exchange funds own one million five hundred and ten thousand bitcoins, or seven and two‑tenths percent, and public companies own one million fifty thousand bitcoins, or five percent of the total volume. River associates the prevalence of self‑custody with the structure of asset ownership: more than half of all bitcoins were mined before the mass adoption of crypto exchanges. Over twelve million bitcoins have not been moved over the past year, and more than six million coins have remained inactive for at least five years.

At the same time, the market of custodial services is changing. In 2021, exchanges controlled more than half of the bitcoins held by intermediaries, but now their share is only thirty‑eight percent. The remaining volume is mainly concentrated in specialized cryptocurrency storage services. At the same time, nearly half of the coins on trading platforms are backed by publicly verifiable reserves, River experts reported.

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The material was prepared solely for informational and educational purposes and does not constitute financial advice or a recommendation.