Bitcoin Key Stakeholders Grow in Tandem With Coldcard Fallout
🐋 Bitcoin’s 10 to 10K BTC wallets have added 19,610 more coins (+0.14%) since July 29th. Small retail wallets under 0.01 BTC now hold 0.55% less.
🔐 The timing lines up with the Coldcard fallout. A firmware entropy flaw put affected wallets at risk, with estimated losses now exceeding 1,360 $BTC, valued at approximately $87M based on current prices.
😨 The damage of this news went beyond drained wallets. Fear spread fast, trust cracked, and even non-impacted retail holders appear to be reducing exposure as hardware-wallet confidence took a hit. This has created a domino effect of retail selling off coins at an increased rate due to their coins held in self custody are no longer safe.
🧲 Bigger wallets are absorbing the shakeout. The key point is that this chart tracks the full 10 to 10K BTC cohort, not just a single Coldcard-related address, so the signal points to market-wide accumulation while retail loses nerve.