Who owns Bitcoin? Galaxy finds 55% of BTC supply remains unidentified

More than 11 million Bitcoin have remained outside the ownership records of major blockchain research firms, with Galaxy Research estimating that 55% of the cryptocurrency’s circulating supply cannot be linked to any known individual or institution. Summary Galaxy Research found that roughly 11.1 million BTC, representing 55% of Bitcoin’s supply, could not be linked to known owners. Galaxy’s head of research Alex Thorn said the figures suggest that individual investors may still control a substantial amount of Bitcoin through personal wallets. The unidentified holdings could include lost Bitcoin, coins mined in the network’s early years and institutional wallets that researchers have yet to identify. The remaining 45% includes holdings attributed to exchanges, Bitcoin ETFs, governments and early miners associated with the Satoshi era. According to Galaxy’s October ownership snapshot, roughly 11.1 million BTC remain unattributed despite years of institutional buying, the launch of spot Bitcoin ETFs and the growing number of companies offering cryptocurrency custody services. Galaxy head of research Alex Thorn said the findings suggest that a substantial amount of Bitcoin may still b...