A recent survey from data aggregator CoinGecko revealed that only 55% of new cryptocurrency owners began their portfolios with Bitcoin, indicating a maturing market, according to analysts.
A survey released on Monday, involving 2,549 crypto participants from CoinGecko, also found that 10% of respondents have never purchased Bitcoin (BTC).
“In short, Bitcoin has become less likely to serve as the initial entry point over time, as various narratives and altcoin communities have emerged and gained popularity,” stated CoinGecko research analyst Yuqian Lim.
Altcoin entry signifies a healthy market
In a conversation with Cointelegraph, Jonathon Miller, general manager at crypto exchange Kraken, stated that investors are beginning to onboard through alternative sectors like DeFi or memecoins.
“This is indicative of the growth and maturity of the crypto ecosystem: Bitcoin is no longer the sole significant asset, while access is increasingly seamless, making it easier for newcomers to interact with emerging narratives,” he explained.
Nevertheless, he believes that, due to rising geopolitical uncertainty, ongoing monetary debasement, and Bitcoin’s standing as the “soundest form of money,” users who initially steered clear will likely return.
“Over time, many crypto market participants initially attracted by speculative trends will come to appreciate Bitcoin’s lasting significance and adjust their holdings accordingly.”
Why altcoins draw interest
Hank Huang, CEO of the quantitative trading firm Kronos Research, shared with Cointelegraph that investors who skip Bitcoin on their first venture into the market are often enticed by the lower unit prices of altcoins and the stronger community bonds they provide.
CoinGecko’s survey revealed that 37% of respondents entered the space through altcoins, bypassing Bitcoin.
“As crypto adoption rises, more investors will bypass Bitcoin, attracted to lower-cap altcoins and active communities. This reflects a maturing market where diversification fosters participation,” Huang noted.
“The excitement now gravitates toward Sol, ETH, and memecoins, transforming Bitcoin from the default entry point into merely one of many paths within crypto.”
In the long run, Huang predicts that the future of crypto won’t rely solely on Bitcoin, as it contends with new frameworks, and adoption increasingly hinges on “varied ecosystems where innovation, culture, and community hold as much weight as value.”
Users may fear they’ve missed the opportunity
Tom Bruni, head of markets at investment-based social media platform Stocktwits, mentioned to Cointelegraph that a lack of comprehension and Bitcoin’s constantly rising price could also be contributing factors.
“While crypto enthusiasts believe the industry is still in its early stages, outsiders may feel that if they didn’t invest in Bitcoin at lower prices, they’ve already missed their chance, especially given it has traded above $100,000,” he remarked.
“This recent bull market has showcased significant gains from particular altcoins, and the quest for a ‘cheaper’ crypto than Bitcoin has led individuals further out on the risk spectrum into the altcoin and memecoin sectors.”
Bitcoin has reached multiple all-time highs in 2025, the latest occurring on Aug. 14 when it surpassed $124,000 for the first time.
Simultaneously, Bruni indicated that as altcoins, stablecoins, and related blockchain technologies expand, Bitcoin’s dominance may decline, yet it will likely remain an “anchor in many portfolios.”
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“Ultimately, performance influences allocation choices, so as long as Bitcoin’s returns align with the rest of the ecosystem, it’s improbable that more individuals will have no exposure,” he stated.
“At the moment, performance is strong, but if the market falters, it could provoke a retreat to Bitcoin as the more stable and institutional option in crypto.”
Zero Bitcoiners are unlikely to persist
Qin En Looi, managing partner at venture capital firm Onigiri Capital, conveyed to Cointelegraph that early adopters have already acquired Bitcoin, while the late majority will likely enter only once it’s integrated into traditional financial systems, accessible via banks, wealth management firms, or retirement solutions.
“As this infrastructure develops, we will probably see fewer individuals with zero exposure, but the transition will be slower than expected due to the necessary trust-building process,” he commented.
Ultimately, En Looi believes Bitcoin’s role is transforming, but it will never vanish, as it serves as the benchmark for the broader crypto market, akin to how gold remains a reference point in traditional finance.
“What we are witnessing is not necessarily a decline in relevance, but a broadening of what is significant, where stablecoins, tokenized assets, and application-layer initiatives now share the stage.”
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