Santiment: Number of Addresses Holding at Least 100 BTC Nears 20,000, Bitcoin Undergoing "Strong Hands Reallocation"

On February 27, crypto analytics firm Santiment tweeted that Bitcoin is on the cusp of a milestone: the number of addresses holding at least 100 BTC is set to surpass 20,000. A wallet with 100+ BTC is currently worth at least $6.78 million, and these wallets are primarily held by high-net-worth individuals (HNWIs), funds, long-term holders, or institutions. When this count rises during or after a price dip (as observed recently), it signals bullish momentum. However, the percentage of total Bitcoin supply held by key stakeholders hasn’t seen meaningful growth — which is why the asset’s price remains under pressure. Growth in 100+ BTC addresses means more large holders are diversifying, rather than a small group controlling the bulk of supply. In this sense, it points to reduced concentration at the top. That said, it also signals a shift of wealth toward “strong hands” (long-term holders) versus small retail wallets. This isn’t decentralization at the most granular level, but it does mean more independent entities are joining the “whale” ranks. Historically, whale address growth often occurs during accumulation phases, followed by support for price rebounds. For this trend to sustain, address growth needs to align with total supply growth, as retail investors gradually sell tokens to large wallets. History shows retail traders eventually panic-sell or take profits too early, enabling this phase to unfold.