
Supply Held by Addresses with > 100K BTC adds up the full balances of individual Bitcoin addresses holding more than 100,000 BTC each. The unit is BTC, so the reading measures coins held in this balance bracket rather than the number of addresses.
Higher values mean more supply is concentrated in exceptionally large addresses. A rise can reflect incoming transfers or an address crossing the threshold; a fall can reflect withdrawals or balances being split across smaller wallets. The series reached about 828,555 BTC on September 30, 2022, showing that its largest reading need not coincide with a high BTC price.
One address may hold funds for many exchange or custody customers, while one owner can use many smaller addresses. Crossing the cutoff adds or removes the entire address balance, creating sharp steps without equivalent net accumulation or distribution. Use this as an address-concentration measure alongside exchange reserves, not a count of large investors.
It counts BTC held in qualifying addresses, not whales or people. A custodial address can represent many customers, and an investor with more than 100,000 BTC spread across smaller addresses may not appear in this bracket.
If an address falls below the 100,000 BTC threshold, its remaining balance also leaves this bracket. The change in the series can therefore be much larger than the transfer that caused it.
The recorded high was about 828,555 BTC on September 30, 2022. BTC traded around $19,573 in the accompanying historical price data, so this was a concentration high rather than a price high.