After more than a decade of open access, the balance of Bitcoin ownership is starting to shift—but individuals still dominate.
According to new data visualized by financial firm River, the general public holds over two-thirds of all Bitcoin in circulation, despite rising institutional interest.
River’s chart, dated July 14, 2025, shows that individual wallets control 14 million BTC, far outpacing combined holdings by corporations, funds, and governments. Together, these institutional entities only account for about 13.8% of the total supply—a sign that Wall Street is still playing catch-up.
The report frames this disparity as a missed opportunity for major players: everyday users had over 15 years to build exposure before the financial giants even stepped in. Now, institutions looking to enter must do so in a market with limited liquidity and rising prices.
Adding to the sense of scarcity are several dormant and inaccessible chunks of the total supply. Nearly 1.6 million coins are considered lost. Another 968,000 BTC—possibly mined by Bitcoin’s creator—have never moved. And just over 1 million remain unmined, leaving limited room for large-scale accumulation going forward.
Government holdings remain minimal in River’s estimate, with only 314,000 BTC attributed to national treasuries. Independent trackers suggest higher numbers, particularly for countries like the U.S. and China, but River’s model uses a narrow definition based only on officially recognized wallets.
As ETF inflows and corporate treasury plays ramp up, the pressure on circulating supply could intensify. If the trend continues, the next phase of Bitcoin’s evolution might not be defined by early adopters—but by how much the latecomers are willing to pay to catch up.
Kosta Gushterov
Reporter at Coindoo
Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
Source: https://coindoo.com/retail-still-rules-bitcoin-but-the-clock-is-ticking/