Key insights:
The illiquid supply of Bitcoin now reaches a historic high of 14.3 million BTC.
Whales are consuming nearly 300% of the annual mined BTC supply.
Bitcoin’s (BTC) illiquid supply, consisting of coins held long-term by those with minimal spending history, has achieved its highest level ever recorded.
According to data from market intelligence firm Glassnode, Bitcoin’s illiquid supply has surged to an unprecedented 14.3 million BTC.
Record Levels for Bitcoin’s Illiquid Supply
The quantity of BTC held by entities for more than seven years without being sold has increased by over 422,430 coins since January 1, reaching a new peak of 14.3 million BTC as of Friday.
Related: Analysts set a $150K price target for Bitcoin as the market eyes new all-time highs
With the current circulating supply of Bitcoin at approximately 19.92 million, over 72% of all mined BTC is now deemed illiquid.
This indicates that investors prefer to retain their Bitcoin rather than sell it, thereby reducing the liquid portion available on exchanges.
This trend underscores a consistent accumulation among long-term holders (LTHs) and whales, showcasing a growing long-term confidence.
Fidelity, an asset management firm, predicts that LTHs and corporate treasuries could lock away more than 6 million BTC by 2025, which would tighten the supply and potentially elevate prices.
The firm discovered that the share of Bitcoin supply held by LTHs has increased each quarter since 2016, and the supply held by publicly traded companies with at least 1,000 BTC has risen each quarter since 2020.
“We estimate that this combined group will hold over six million BTC by the end of 2025—representing more than 28% of the total 21 million Bitcoin that will ever exist.”
As reported by Cointelegraph, corporate Bitcoin strategic reserves and ETF issuers’ collective holdings have surged by 30% in 2025, rising from 2.24 million BTC on January 1 to 2.88 million BTC on Tuesday.
This increase highlights a continuous consolidation of BTC supply among significant institutional and corporate stakeholders.
Bitcoin Whales Absorb Almost 300% of New Supply
Bitcoin whales and sharks are absorbing BTC at unprecedented rates—approximately 300% of yearly issuance—while exchanges are experiencing record outflows, based on data from Glassnode.
Noteworthy is that Bitcoin’s annual absorption rate by exchanges has dropped below -150% as outflows continue, indicating a heightened preference for self-custody or long-term investments.
Meanwhile, larger holders (100–1,000+ BTC) are acquiring nearly three times the new issuance, marking the fastest accumulation rates for sharks and whales in Bitcoin’s history.
This signifies a structural change as traditional finance increasingly embraces BTC, especially with the rise of Bitcoin treasury companies and ongoing ETF demand. The outcome is a reduced BTC supply on crypto exchanges and long-term bullish sentiment among major holders.
This article does not constitute investment advice or recommendations. Every investment and trading decision carries risks, and readers should perform their own research before making a decision.
