Post #2320

The holder map shows how concentrated BTC supply is at the top. Satoshi alone sits above 1.1M BTC, while exchanges like Coinbase (~998K) and ETFs like BlackRock’s IBIT (~800K) control massive pools of liquid supply. What changed over time is who holds it. Early coins were static, now a large share sits inside custodians, ETFs, and CEXs, which means the same coins can move faster when flows shift.