Bitcoin whales' long-term holdings reach a record 14.3 million BTC.

The share of the world's leading cryptocurrency held by hodlers for over seven years has reached a record high of 14.3 million BTC, according to Glassnode data.

Since the beginning of the year, the figure has grown by 422,430 BTC.

Bitcoin illiquid supply growth dynamics. Source: Glassnode.

The metric takes into account the holdings of investors who prefer to hold Bitcoin long-term rather than trade, reducing the liquid supply on exchanges. The persistent accumulation trend among these players ( LTH ) reflects growing confidence in the cryptocurrency's prospects.

Growing deficit

Fidelity forecasts that by 2025, LTC and corporate treasuries could remove more than 6 million BTC from circulation, which would increase the deficit and could support the price of digital gold.

The company notes that the share of Bitcoin held by hodlers has been gradually increasing since 2016. The volume of coins on the balance sheets of public companies with portfolios of at least 1,000 BTC has also steadily increased since 2020.

“We forecast that this combined group will own more than 6 million BTC by the end of 2025—or over 28% of the 21 million BTC that will ever exist,” the analysts emphasized.

Quarterly dynamics of Bitcoin supply held by LTH and public companies. Source: Fidelity.

Total reserves of the leading cryptocurrency on corporate balance sheets and in ETFs have grown by 30% since the beginning of the year, from 2.24 million BTC to the current 2.88 million BTC.

The increase in the indicator reflects the continued concentration of digital gold supply among institutional and other large players.

Whales and sharks are accumulating coins at record rates—approximately 300% of the annual supply. Meanwhile, the stock of the leading cryptocurrency on exchanges is rapidly declining, reaching -150%.

The rate of absorption of the first cryptocurrency by exchanges. Source: Glassnode.