Bitcoin holdings by "conviction buyers" have increased to nearly 4 million coins, a 300% increase since the end of 2025.

CoinFeed reported on May 14th that, according to CoinDesk, Bitfinex, citing BitGo data, stated that the supply held by Bitcoin "conviction buyers" has surged to nearly 4 million BTC, a 300% increase since the end of 2025. At the current price of approximately $80,000, this "conviction" capital is worth about $320 billion. Bitfinex stated that the current accumulation trend represents the largest two-quarter surge in high-conviction buying since the 2020 pandemic crash, with more and more Bitcoin realizing its value no longer circulating on exchanges but transferring to entities with minimal trading activity. Mati Greenspan, founder of Quantum Economics, stated that the exact methodology of the BitGo "conviction buyer" indicator is still unclear, but historically, a combination of tightening liquidity and recovering demand has created conditions for Bitcoin's most aggressive upward expansion.