A recent survey from data aggregator CoinGecko revealed that only 55% of new crypto owners began their portfolios with Bitcoin, indicating a maturing market, according to analysts.
A survey conducted on Monday involving 2,549 crypto participants from CoinGecko also showed that 10% of those surveyed have never purchased Bitcoin (BTC).
“In other words, Bitcoin has become less the primary entry point over time as other narratives and altcoin communities have emerged and gained momentum,” stated CoinGecko research analyst Yuqian Lim.
Altcoin introduction signals a healthy market
“This reflects the growth and maturity of the crypto landscape: Bitcoin is no longer the sole major asset, while access has become increasingly seamless, enabling newcomers to engage with emerging narratives more easily,” he noted.
Nevertheless, he believes that amid growing geopolitical uncertainty, ongoing monetary debasement, and Bitcoin’s reputation as the “soundest form of money,” users who initially overlooked it will likely return.
“Over time, many crypto market participants initially attracted by more speculative trends will come to appreciate Bitcoin’s lasting significance and adjust their portfolios accordingly.”
Reasons for altcoin appeal
Hank Huang, CEO of quantitative trading firm Kronos Research, told Cointelegraph that investors who skip Bitcoin in their initial market entry are often attracted by the lower unit prices of altcoins and the stronger sense of community they provide.
CoinGecko’s survey revealed that 37% of respondents entered the market through altcoins instead of Bitcoin.
“As crypto adoption increases, more investors will skip Bitcoin, attracted to lower-cap altcoins and dynamic communities. This signifies a maturing market where diversification fuels participation,” Huang explained.
“The excitement is shifting toward Sol, ETH, and memecoins, making Bitcoin just one of many paths in the crypto space.”
In the long run, Huang forecasts that the future of crypto will not solely depend on Bitcoin, as it faces competition from new frameworks, with adoption increasingly influenced by “diverse ecosystems that value innovation, culture, and community as much as worth.”
Users may fear missed opportunities
Tom Bruni, head of markets at investment-focused social media platform Stocktwits, noted in an interview with Cointelegraph that misunderstandings and Bitcoin’s rising price could deter some potential investors.
“While crypto enthusiasts consider the industry to be in its early stages, outsiders might feel that if they didn’t buy Bitcoin at earlier lower prices, they’ve missed their chance, especially with its trading exceeding $100,000,” he explained.
“This recent bull run has highlighted significant outperformance from certain altcoins, and the quest for a “cheaper” crypto than Bitcoin has pushed individuals towards higher-risk altcoin and memecoin markets.”
Bitcoin achieved multiple all-time highs in 2025, with the latest occurring on Aug. 14 when it surpassed $124,000 for the first time.
Simultaneously, Bruni remarked that as altcoins, stablecoins, and other related blockchain technologies advance, Bitcoin’s dominance may decline, but it will likely remain an “anchor in many portfolios.”
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“In the end, performance influences allocation choices, so as long as Bitcoin’s returns align with the broader ecosystem, it seems unlikely that more individuals will have zero exposure,” he concluded.
“Currently, performance is strong, but if the market declines, it could prompt a return to Bitcoin as the more stable and institutionalized crypto option.”
Those without Bitcoin won’t last long
In conversation with Cointelegraph, Qin En Looi, managing partner at venture capital firm Onigiri Capital, mentioned that early adopters already possess Bitcoin, while latecomers will likely join once it integrates into the traditional financial system, accessed via banks, wealth managers, or retirement products.
“As this infrastructure develops, we should see fewer without any exposure, but the pace will be slower than anticipated since it relies on systematic trust-building,” he stated.
Ultimately, En Looi believes that while Bitcoin’s role is changing, it will not vanish, as it serves as the benchmark for the larger crypto market, just as gold remains a reference in traditional finance.
“What we are witnessing is less a decline in relevance, but rather an expansion of what is deemed relevant, where stablecoins, tokenized assets, and application-layer projects now share the spotlight.”
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