A new survey by data aggregator CoinGecko reveals that only 55% of individuals who recently entered the crypto space included Bitcoin in their portfolio, indicating a maturation of the market, according to analysts.
The survey, which was published on Monday and included 2,549 crypto participants, also found that 10% of the respondents have never purchased Bitcoin (BTC).
“This suggests that Bitcoin is becoming less of the primary entry point for newcomers, as alternative narratives and communities gain momentum,” remarked Yuqian Lim, a research analyst at CoinGecko.
Entry through Altcoins Indicates a Healthy Market
In a discussion with Cointelegraph, Jonathon Miller, the general manager of the cryptocurrency exchange Kraken, noted that investors are increasingly exploring other sectors such as DeFi and memecoins.
“This reflects the growth and evolution of the crypto ecosystem: Bitcoin is no longer the sole significant asset, and accessibility is becoming more seamless, allowing newcomers to engage with diverse narratives,” he stated.
However, he also believes that amidst rising geopolitical uncertainties, ongoing monetary debasement, and Bitcoin’s status as the “soundest form of currency,” those who initially overlooked it may eventually return.
“Over time, many participants in the crypto market, initially attracted by speculative trends, will recognize Bitcoin’s lasting significance and adjust their portfolios accordingly.”
Reasons Behind Altcoin Attraction
Hank Huang, CEO of the quantitative trading firm Kronos Research, shared with Cointelegraph that many investors who skip Bitcoin initially are often attracted by the lower costs associated with altcoins and the vibrant communities they foster.
CoinGecko’s survey indicated that 37% of participants entered the market through altcoins rather than Bitcoin.
“As crypto adoption expands, more investors may forgo Bitcoin, attracted instead to lower-cap altcoins and resilient communities. This trend signals a maturing market driven by diversification,” Huang explained.
“The excitement now gravitates towards Sol, ETH, and memecoins, shifting Bitcoin from being the default entry point to just one of several avenues in crypto.”
In the long run, Huang speculates that the future of crypto will not solely rest on Bitcoin, as it faces competition from new frameworks, with adoption increasingly influenced by “varied ecosystems where innovation, culture, and community hold as much significance as value.”
Concerns Over Missing Out
Tom Bruni, head of markets at the investment-based social media platform Stocktwits, mentioned to Cointelegraph that a lack of understanding coupled with Bitcoin’s generally rising price might play a role in this trend.
“While industry insiders consider the crypto space to still be in its early stages, outsiders might feel that if they didn’t purchase Bitcoin at lower prices, they’ve already missed the opportunity, especially given its trading record above $100,000,” he noted.
“This recent bull run has seen notable gains from various altcoins, and the inclination to discover a “cheaper” crypto than Bitcoin has led investors to explore riskier altcoins and memecoins.”
Bitcoin reached multiple all-time highs in 2025, with its most recent peak occurring on August 14, when it surpassed $124,000 for the first time.
Meanwhile, Bruni mentioned that as altcoins, stablecoins, and other blockchain-related technologies develop, Bitcoin’s dominance may decrease, yet it will likely remain a foundational asset in many portfolios.
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“Ultimately, performance will dictate allocation choices; as long as Bitcoin’s returns remain competitive with the broader ecosystem, it’s unlikely that any investor will hold no exposure to it,” he stated.
“Currently, performance is strong, but if the market falters, it could prompt a shift back to Bitcoin as a more stable and institutionalized crypto option.”
Minimal Zero Bitcoiners Will Persist
Qin En Looi, managing partner at venture capital firm Onigiri Capital, told Cointelegraph that early adopters typically own Bitcoin, while the late majority will likely enter the space only once it becomes integrated into traditional financial systems, accessible via banks, wealth managers, or retirement plans.
“As the infrastructure develops, we will probably see fewer individuals with no exposure; however, the rate of adoption will be slower than anticipated, as it depends on trust being built systematically,” he noted.
Ultimately, En Looi believes that Bitcoin’s role will adapt, but it will never vanish, as it serves as the benchmark for the larger crypto landscape, much like how gold remains a reference in traditional finance.
“What we are witnessing is not a decline in relevance, but rather the expansion of what is deemed significant, with stablecoins, tokenized assets, and application-layer projects sharing the spotlight.”
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