New data from CryptoQuant shows that new Bitcoin (BTC) wallets are holding an impressive 9.3% of the total Bitcoin supply.
In a recent post on X, CryptoQuant CEO Ki Young Ju shared some eye-opening statistics. He noted that the balances in these new Bitcoin whale wallets have skyrocketed by 813% since the start of the year. What’s a whale wallet, you ask? It’s a wallet with an average coin age of less than 155 days.
“These new whale wallets now hold 1.97 million Bitcoin. Each wallet contains over 1,000 BTC and has an average coin age under 155 days. This excludes wallets from exchanges and miners, which are likely custodial. Their Bitcoin balance has surged by 813% this year, making up 9.3% of the total supply, valued at about $132 billion today,” Ju explained.
Ju also pointed out a significant shift in how institutional demand is changing the game. Bitcoin is no longer viewed as just a speculative asset. Instead, it’s becoming a more stable investment option, encouraging larger and longer-term positions.
“At first, I thought this data might be off because the numbers seemed too high. But think about it. It’s like institutional investors picking up an extra 8.2% stake in a company called Bitcoin within just one year. The ownership landscape of Bitcoin is becoming more diverse with institutional players stepping in. Nobody calls Bitcoin a gamble anymore, and the overall atmosphere feels more mature,” he added.
Ju mentioned that apparent demand—a metric used to track production and inventory changes for Bitcoin—is back in the positive zone.
As of now, Bitcoin is trading at $67,639, reflecting a 2.64% gain over the last 24 hours.