Bitcoin's illiquid supply has hit a record 14.3 million BTC, according to Glassnode data, as large investors continue to accumulate the cryptocurrency. This figure represents over 72% of Bitcoin's total circulating supply of approximately 19.92 million BTC, indicating a significant portion of Bitcoin is being held long-term by investors with little history of spending. The trend of accumulation is driven by whales and long-term holders (LTHs), who are absorbing nearly 300% of the newly mined Bitcoin supply. This has resulted in a decrease in the liquid supply available on exchanges, highlighting a growing preference for self-custody and long-term investment. Asset management firm Fidelity projects that LTHs and corporate treasuries could hold over 6 million BTC by 2025, potentially tightening supply further and impacting prices. The consolidation of Bitcoin supply into the hands of major institutional and corporate players is underscored by a 30% increase in the collective holdings of corporate Bitcoin strategic reserves and ETF issuers in 2025. This structural shift reflects traditional finance's increasing adoption of Bitcoin, with significant implications for the cryptocurrency's market dynamics.