Bitcoin Lockdown: 14 Million BTC Now In Cold Storage As Holders Dig In
More than 14 million Bitcoin are currently idle in wallets with minimal spending activity, leaving approximately 7 million BTC available for trading. The illiquid supply has increased from just under 14 million in December 2024 to around 14.30 million today, indicating a trend towards long-term storage and self-custody solutions. Investors are increasingly moving Bitcoin off exchanges into private wallets, particularly since late March. In the past week, over five companies have announced new Bitcoin purchases, with ProCap BTC leading by acquiring 4,930 BTC for $515 million. Other notable purchases include Michael Saylor’s Strategy (245 BTC), Smarter Web (197 BTC), Méliuz S.A. (275 BTC), and Metaplanet (1,234 BTC for $132 million). Only one-third of Bitcoin's total supply remains liquid, potentially complicating sourcing for new buyers and driving prices higher. Eric Trump predicts Bitcoin could reach $170K by the end of 2026, citing a doubling of firms holding Bitcoin in the past year. A supply crunch combined with steady demand may lead to significant price increases, although market volatility remains a concern. Currently, 14.35 million Bitcoin are inactive, which could set the stage for a future rally.
