Accumulation rates can also be assessed using wallet size heuristics, where this chart considers all entities holding less than 100 BTC. These Shrimp (< 1BTC), Crabs (1 to 10BTC) and Fish (10 to 100BTC) capture a wide cross section of investors, from retail through to high net worth individuals.

In aggregate, their accumulation rates have exceeded new issuance since Feb 2022, being the longest and most sustained period in history.