Most bitcoin remains in self-custody despite institutionalization, Alex Thorn notes

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BTC supply mainly in unattributed addresses

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6 hours ago

Most bitcoin remains in self-custody despite institutionalization, Alex Thorn notes — BTC supply mainly in unattributed addresses

More than half of all bitcoin (BTC) supply is currently in addresses with no known attribution. Alex Thorn stated that despite the growth of institutional involvement and centralized ownership over the years, a significant amount of BTC may still be held by individuals in self-custody.

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Alex Thorn previously reported that the U.S. government held over 300,000 BTC in both January 2025 and October 2026, with a peak value of $34.1 billion tracked for those periods. In another case, he investigated a Ledger supply chain attack that resulted in the theft of 213.42 BTC, or $17.7 million in losses from affected wallets. These incidents provide a snapshot of notable tracked and lost bitcoin holdings.

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