🔍 Who actually holds more than half of all Bitcoin?

Galaxy Research’s October snapshot shows that about 11.1 million BTC—55% of the roughly 20.1 million BTC mined so far—are held in addresses that can’t be linked to any known entity, such as an exchange, fund, or government. (Source: CoinDesk, 10/26)

📋 What does this number tell us?
• Institutionalization doesn’t mean centralization: identified holdings by exchanges, ETFs (including BlackRock), the U.S. government, and others total about 45%
• Galaxy Head of Research Alex Thorn believes self-custody remains very common, and individuals may still hold the majority
• Identified holdings also include 1,123,658 BTC attributed to “Satoshi-era miners”

⚠️ But keep in mind how this is defined
• “Unidentified” ≠ “ownerless”: these coins may belong to individuals or unidentified institutions/OTC entities, or they may be permanently lost (forgotten keys, lost hardware, etc.)
• So it’s not accurate to simply conclude that “retail investors hold half of all coins”

📉 Market context
BTC is currently hovering around $80,000. ETF flows turned positive briefly during the week, but that was offset by $773 million in net outflows on Thursday and Friday. The market is waiting for the Fed meeting on October 28. Key levels to watch in the short term:
• Support: $79,000
• Resistance: $82,000

💬 How much of that 55% do you think is lost? Let’s discuss in the comments 👇

👉 Trade BTC: https://www.binance.com/zh-CN/trade/BTC_USDT

#比特币 #GalaxyResearch #自托管 #BTC

⚠️ This is not investment advice. Please be aware of the risks.