Recently, a data analysis report on Bitcoin (BTC ) on-chain wallet addresses has drawn widespread attention in the industry. This report only counts the number of addresses on the blockchain and does not include the holdings of users on centralized exchanges, yet it still outlines an interesting profile of BTC holders.

Currently, the total number of wallet addresses holding BTC on-chain has surpassed 55 million, presenting a pyramid distribution structure. Behind this massive number, approximately 3.4 million addresses hold between 0.1 to 1 BTC, which may represent the main group of ordinary investors. Holders within this range are often regarded as the backbone of the Bitcoin ecosystem, and their participation plays a crucial role in maintaining market stability.

What is even more striking are the addresses that hold between 10 to 100 BTC. These addresses likely belong to early Bitcoin participants who recognized its potential before digital currency became widely known. This group of pioneers is undoubtedly a major beneficiary in the current market cycle, and their holding strategies and market behaviors often attract close attention from other investors.

It is worth mentioning that there are a large number of addresses in the data with a balance below 0.001 BTC. These addresses may mainly be used for participating in various on-chain activities or small transactions, which are not significantly meaningful from an investment perspective.

Although there is currently a lack of detailed regional distribution data, it is widely believed in the industry that Chinese investors played an important role in the early Bitcoin market. Many domestic investors began accumulating Bitcoin when prices were relatively low, and thus became one of the main beneficiaries in this bull market.

As the price of Bitcoin continues to rise, the threshold for fully holding 1 BTC is becoming increasingly high. On-chain data indicates that BTC holders exhibit a widely distributed characteristic, but most individual investors may hold less than 1 Bit. This trend suggests that in the future, individual investors who can fully hold 1 BTC may become increasingly rare, which will undoubtedly further enhance the scarcity and value of Bitcoin.

Overall, this on-chain address data provides us with a unique perspective to observe the structure of Bitcoin holders. From small holders to early whales, each type of investor plays its own role in this ecosystem, collectively shaping the future direction of Bitcoin.