Bitcoin Addresses Holding Over 0.1 BTC Stagnate at 4.44 Million Since 2023

The number of Bitcoin addresses holding more than 0.1 BTC has stagnated over the past two years, breaking a decade-long growth trend. This suggests a shift in how smaller and mid-sized investors are engaging with Bitcoin.

Key Observations

Historically, crossing the 0.1 BTC threshold indicated commitment from retail holders, but this pattern is no longer growing.
As of 2023, the number of addresses with more than 0.1 BTC has remained around 4.44 million according to Santiment data.
This stagnation occurs despite Bitcoin's increased mainstream visibility and recent price highs.

Bitcoin Chart

Shift in Investor Behavior

Larger investors, including high-net-worth individuals and funds, are increasing their holdings significantly.
Santiment reports that addresses holding over 100 BTC have grown in 2024 and 2025.
Many investors are now accessing Bitcoin via custodial solutions like Spot Bitcoin ETFs, which hold nearly $120 billion in Bitcoin.

This evolution indicates a transition from self-custodied individual ownership to a market dominated by institutional and professionally managed investments.