A recent survey by data aggregator CoinGecko revealed that only 55% of new crypto owners have Bitcoin in their portfolio, indicating a maturing market, according to analysts.
A survey released on Monday involving 2,549 crypto participants from CoinGecko also discovered that 10% of respondents have never purchased Bitcoin (BTC).
“In other words, Bitcoin is becoming less likely to be the initial asset for newcomers, as alternative narratives and communities are emerging and gaining popularity,” said CoinGecko research analyst Yuqian Lim.
Altcoin entry signals a healthy market
Speaking with Cointelegraph, Jonathon Miller, general manager of crypto exchange Kraken, noted that investors are starting their journeys through other areas, such as DeFi or memecoins.
“This demonstrates the growth and maturity of the crypto ecosystem: Bitcoin is no longer the sole significant asset, and access is becoming increasingly seamless, allowing newcomers to engage with new narratives more easily,” he stated.
However, he believes that due to growing geopolitical uncertainty, ongoing monetary inflation, and Bitcoin’s reputation as the “soundest form of money,” users who initially shied away from it may return.
“Over time, many market participants initially drawn in by speculative trends will recognize Bitcoin’s lasting significance and adjust their portfolios accordingly.”
Why altcoins attract investors
Hank Huang, CEO of quantitative trading firm Kronos Research, told Cointelegraph that those who skip Bitcoin on their first entry into the market are often enticed by the lower price points of altcoins and the stronger community aspect they provide.
CoinGecko’s survey showed that 37% of respondents entered the market through altcoins instead of Bitcoin.
“As crypto adoption expands, more investors will overlook Bitcoin, attracted to lower-cap altcoins and dynamic communities. This reflects a growing market where diversification fuels participation,” Huang remarked.
“The excitement is shifting towards Sol, ETH, and memecoins, turning Bitcoin from the default entry point into just one of many paths in crypto.”
Looking ahead, Huang speculates that the future of crypto won’t be solely tied to Bitcoin, as it faces competition from new frameworks, and adoption is increasingly influenced by diverse ecosystems where innovation, culture, and community are as crucial as value.
Concerns about missing the opportunity
Tom Bruni, head of markets at investment-based social media platform Stocktwits, shared with Cointelegraph that a lack of understanding and Bitcoin’s often rising price may also contribute to this phenomenon.
“While crypto natives see the industry as still in its infancy, onlookers may feel that if they didn’t acquire Bitcoin at lower prices, they’ve already missed out, particularly as it has crossed $100,000,” he explained.
“This recent market surge has seen notable performance from certain altcoins, and the quest to find a ‘cheaper’ crypto than Bitcoin has pushed people further into altcoin and memecoin investments.”
Bitcoin reached multiple all-time highs in 2025, with the latest on Aug. 14 when it surpassed $124,000 for the first time.
Bruni mentioned that as altcoins, stablecoins, and other blockchain technologies develop, Bitcoin’s dominance may decrease, but it will likely remain an “anchor in many investment portfolios.”
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“Ultimately, performance influences allocation decisions, so as long as Bitcoin’s returns align with the rest of the ecosystem, it’s unlikely that many will have zero exposure,” he added.
“Currently, performance is strong, but if the market falters, it could prompt people to retreat into Bitcoin as the more stable and institutionalized crypto choice.”
Those without Bitcoin won’t last long
In an interview with Cointelegraph, Qin En Looi, managing partner at venture capital firm Onigiri Capital, said that early adopters already hold Bitcoin, while the late majority will enter once it’s integrated into the traditional financial system, accessible via banks, wealth managers, or retirement products.
“As this infrastructure evolves, we’ll likely see fewer individuals with zero exposure, but the transition will be slower than many anticipate, as it relies on building trust systematically,” he noted.
Ultimately, Looi believes Bitcoin’s role is changing, but it won’t disappear, as it serves as the benchmark for the broader crypto market, much like gold remains a reference point in traditional finance.
“What we’re witnessing is less a decline in importance, but rather an expansion in what is considered relevant, where stablecoins, tokenized assets, and application-layer projects now share the limelight.”
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