As of May 24, 2025, the number of Bitcoin addresses holding over 100 BTC stands at 18,268, a slight decrease from 18,544 on February 26, 2017. This minor change over more than eight years indicates a steady base of large holders, often referred to as “whales,” reflecting long-term confidence in Bitcoin as a store of value.
Stable Whale Activity Despite Market Volatility
The chart below illustrates the rapid rise in whale addresses from 2010 to 2016, peaking around late 2016 and early 2017. Since then, the trend has remained relatively flat, suggesting that major players continue to hold significant amounts of Bitcoin. Notably, a sharp increase in whale addresses since late December 2024 signals renewed accumulation by large holders as Bitcoin’s price approaches $100,000.
Long-Term Commitment from Large Holders
The consistent number of addresses holding over 100 BTC underscores the commitment of large holders to Bitcoin over the long term. Despite market fluctuations, this stability supports the notion of Bitcoin as a reliable store of value. The renewed accumulation observed in late 2024 further emphasizes the confidence of major players in the cryptocurrency’s future potential.
Conclusion
The stability in the number of Bitcoin addresses holding over 100 BTC highlights the ongoing confidence of large holders in the cryptocurrency’s long-term value proposition. As Bitcoin’s price approaches new milestones, the commitment of these whales continues to play a crucial role in shaping the market’s dynamics.
