River Estimates Only 0.01% of Global Population Holds One Whole Bitcoin
A new estimate from U.S. Bitcoin financial services firm River suggests that only about one person in every 10,000 globally holds at least one whole Bitcoin (BTC). According to the analysis, around 825,000 people worldwide hold at least one BTC, representing approximately 0.01% of the global population.
The estimate was derived from a study of approximately 972,000 on-chain addresses containing at least 1 BTC. River excluded addresses managed by companies, governments, exchange-traded funds (ETFs), and cryptocurrency exchanges, which can hold assets for millions of users. The firm assumed that the distribution of Bitcoin holdings among exchange users mirrors the distribution observed on-chain.
The scarcity narrative surrounding Bitcoin's capped supply of 21 million coins is underscored by this estimate. With over 19 million BTC mined as of early 2025, it appears that fewer than a million individuals control a full coin or more. This concentration has implications for both retail and institutional investors, as well as for Bitcoin's long-term value proposition.