Individual investors own an estimated 13.9 million Bitcoin, representing 66% of the 21 million coins that will ever exist, according to data compiled from Bitbo and River. This substantial individual ownership leaves institutional investors competing for Bitcoin that existing holders may be unwilling to sell.
As of October 9, Bitcoin ETFs held 1.48 million BTC, while companies controlled 1.66 million and governments held approximately 518,500 coins. Together, these groups accounted for about 17% of Bitcoin's maximum supply.
An estimated 1.6 million BTC are considered lost, and another 968,000 sit in wallets linked to Bitcoin's anonymous creator, Satoshi Nakamoto.
Ownership Shifting Toward Institutions
The distribution of Bitcoin is gradually changing. River data shows that individuals sold a net 696,000 BTC in 2025, while businesses, investment funds, and governments purchased nearly one million coins during the same period. If this trend continues, institutions may need to offer higher prices to persuade existing holders to part with their Bitcoin.
Corporate Holders Balancing Multiple Financial Demands
Large corporate Bitcoin holders face competing financial pressures. Strategy, formerly MicroStrategy, holds roughly 848,000 BTC but drew $142.5 million from its dollar reserve for dividends and interest during the week ending October 4. The company also spent $73.7 million buying back preferred shares between October 1 and 4, compared to just $28.7 million purchasing 334 BTC during the same period.
Japan's Metaplanet took a different approach, selling 10,000 BTC and repurchasing 11,000 during the third quarter to demonstrate liquidity. The company now holds 44,000 BTC and has limited Bitcoin to 85%–90% of its assets.
With Bitcoin trading near $83,000, institutional demand remains substantial. However, the spending patterns of major corporate holders demonstrate how maintaining large Bitcoin treasuries can compete with efforts to acquire additional coins.
