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    Bybit x Santiment social sentiment report: Bitcoin reserve hopes leave Bitcoin holdings more concentrated

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    Crypto Insights
    May 17, 2025
    4 min read
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    Key Highlights:

    • Strategic Bitcoin reserve (SBR): Established on March 6, 2025, integrating Bitcoin into national reserves

    • Institutional holdings: Strategy acquired 13,390 BTC, totaling 568,840 BTC, and Metaplanet purchased 1,241 BTC for $126 million

    • Ownership concentration: Wallets with over 100 BTC hold 60.84% of supply, and those holding over 10 BTC account for 82.51%

    • Retail impact: Over 80% of Bitcoin is held in wallets holding $1 million or more, affecting market access for smaller investors

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