Important Highlights:
Bitcoin’s illiquid supply has reached a record 14.3 million BTC.
Whales are absorbing nearly 300% of the annual mined BTC supply.
The illiquid supply of Bitcoin (BTC), which consists of coins held long-term by individuals with minimal spending history, has achieved its highest level ever.
According to data from market analytics firm Glassnode, Bitcoin’s illiquid supply has surged to an unprecedented 14.3 million BTC.
Record Highs for Bitcoin’s Illiquid Supply
The amount of BTC held by entities for over seven years without trading has increased by more than 422,430 coins since January 1, reaching a new peak of 14.3 million BTC on Friday.
Related: Analysts predict Bitcoin could hit a $150K price target, expecting a climb to all-time highs within weeks.
With Bitcoin’s current circulating supply at approximately 19.92 million, this implies that over 72% of all mined BTC is categorized as illiquid.
This indicates that investors prefer to hold onto their Bitcoin rather than trading it, thus reducing the liquid supply available on exchanges.
It also signifies a continued trend of accumulation among long-term holders (LTHs) and whales, showcasing deeper long-term faith in the asset.
Asset management firm Fidelity predicts that LTHs and corporate treasuries could collectively lock up over 6 million BTC by 2025, constricting supply and potentially elevating prices.
The company discovered that the share of Bitcoin supplied held by LTHs has been consistently increasing quarter over quarter since 2016. Additionally, the amount held by publicly traded companies with at least 1,000 BTC has similarly seen quarter-over-quarter growth since 2020.
“We estimate that this combined group will hold over six million BTC by the end of 2025—or over 28% of the total 21 million Bitcoin that will ever exist.”
As reported by Cointelegraph, the cumulative holdings of corporate Bitcoin strategic reserves and ETF issuers increased by 30% in 2025, rising to 2.88 million BTC on Tuesday, up from 2.24 million on January 1.
This growth emphasizes a steady consolidation of Bitcoin supply into the hands of significant institutional and corporate participants.
Record Absorption Rates by Bitcoin Whales
Bitcoin whales and sharks are currently absorbing BTC at unprecedented rates — approximately 300% of yearly issuance — while exchanges are depleting coins at a historic velocity, as per data from Glassnode.
Remarkably, the yearly absorption rate of Bitcoin by exchanges has fallen below -150% as outflows continue, indicating a rising preference for self-custody or long-term investment.
Meanwhile, larger holders (100–1,000+ BTC) are acquiring nearly three times the new issuance, representing the fastest accumulation rate among sharks and whales in Bitcoin’s history.
This indicates a structural shift as traditional finance increasingly embraces BTC, particularly with the rise of Bitcoin treasury companies and ongoing ETF demand. Consequently, less BTC is available on crypto exchanges, leading to prolonged bullish confidence among major holders.
This article does not include investment advice or recommendations. Every investment and trading decision carries risk, and readers are encouraged to perform their own research before proceeding.
