Galaxy: Approximately 11.1 million bitcoins cannot be linked to known holders, accounting for 55% of the total mined bitcoins.
2 hours ago
Galaxy Research’s October snapshot shows that of the approximately 20.1 million mined Bitcoin, around 11.1 million (about 55%) are held in addresses unlinked to exchanges, funds, governments, or other known entities. Galaxy Research Director Alex Thorn stated that this demonstrates that despite growing institutionalization, a large volume of Bitcoin is still likely self-custodied by individuals. Xapo Bank notes this reflects retail investors having entered the space over a decade ago. However, this unassigned Bitcoin is not all held by long-term self-custody individuals; it may also include coins inaccessible due to lost private keys or deceased holders, institutional or OTC trader positions unrecognized by Galaxy, and custodial assets spread across multiple addresses. The remaining 45% is already attributed, including exchanges, ETF issuers such as BlackRock, and the U.S. government. The single largest holder is "Satoshi Nakamoto (Patoshi pattern)", holding 1,123,658 BTC.
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