Bitcoin Retail Investors Now Hold 17% Of Total BTC Supply, But Is It Good News?

2022-12-22 02:00

Bitcoin retail investor numbers are on the rise. These smaller investors have less purchasing power but with so many new entrants into the market following the 2020-2021 bull market, their collective purchasing power has grown alongside the total amount they hold.

Retail Investors Hold 17% Of Supply

Over the last few years, bitcoin addresses holding less than 10 BTC on their balances have been picking up more BTC supply. Recent data from on-chain data aggregator Glassnode shows that these small investors now hold 17% of the total BTC supply.

This subset of investors has grown by almost 50% in the last two years from around 12% to 17.3%, and a 0.5% increase in the last 30 days as data from Santiment shows the percentage of supply held by addresses holding between 0.001-10 BTC was sitting at 16.8% on Nov. 1, 2022.

Interestingly, this BTC holder base had seen a significant decline at the start of November. This coincides with the collapse of the FTX crypto exchange, taking a good number of investor coins down with it. However, the recovery has been swift and retail holders are back to building their balances back up.

The increase in retail investor numbers follows the same patterns as previous bull markets such as the 2017 bull market. This shines through in the fact that at the start of 2021, these small holders only account for 13.9% of all BTC supply.

Is This Good News For Bitcoin?

The accelerated adoption rate has been good news for bitcoin and was one of the main drivers behind the 2021 bull market. Looking back, the rise in retail holder numbers has always been good news for the digital asset. It propels the adoption of the cryptocurrency, as well as helps to distribute the total supply to more holders.

Currently, the vast majority of BTC’s supply is still being controlled by large. With more retail investors buying coins, there is more demand for the digital asset. More demand leads to scarcity and scarcity begets higher prices.

However, it is also important to take into account the current crypto market climate. The ‘crypto winter’ is in full bloom, so the next bull market could still be another year away. Given this, adoption will likely help sustain the current price trend rather than trigger a rally.

Nevertheless, the steady rise in wallets holding less than 10 BTC shows more interest from the broader investor community. It also marks significant accumulation among smaller investors during this time. 

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