According to the latest survey by the data aggregation platform CoinGecko, only 55% of new cryptocurrency holders chose Bitcoin as their first investment, indicating that the market is gradually maturing.
According to a survey released by CoinGecko on Monday, which involved 2,549 cryptocurrency participants, 10% of respondents have never purchased Bitcoin (BTC).
"In other words, as other narratives and altcoin communities gradually rise and gain influence, the likelihood of Bitcoin being the entry point is decreasing," said CoinGecko research analyst Yuqian Lim.
According to Cointelegraph, Jonathon Miller, general manager of the cryptocurrency exchange Kraken, stated that investors are entering through other areas such as DeFi or meme coins.
"This demonstrates the growth and maturity of the cryptocurrency ecosystem: Bitcoin is no longer the only mainstream asset, and the channels for user acquisition have become more convenient, making it easier for new users to engage with emerging narratives," he said.
He also believes that as geopolitical uncertainties increase and currencies continue to depreciate, Bitcoin's reputation as the "most robust currency" is gradually rising. Those who initially avoided Bitcoin may eventually return.
According to Cointelegraph, Hank Huang, CEO of quantitative trading firm Kronos Research, stated that investors who did not choose Bitcoin when first entering the market are often attracted by the lower prices of altcoins and the stronger community atmosphere.
The CoinGecko survey shows that 37% of respondents entered the cryptocurrency space through altcoins rather than Bitcoin.
"As cryptocurrency becomes more popular, more investors will bypass Bitcoin and choose low-market-cap altcoins and active communities. This reflects market maturity, with diversification driving participation," Hank Huang pointed out.
In the long run, Hank Huang believes that the future of cryptocurrency will no longer rely solely on Bitcoin. With the emergence of new frameworks, market adoption will increasingly depend on innovation, culture, and community, creating a diverse ecosystem that is equally important as value.
According to Cointelegraph, Tom Bruni, head of markets at Stocktwits, believes that investors' lack of understanding of the industry and the frequent price increases of Bitcoin also influence user choices.
"While insiders in the cryptocurrency space believe the industry is still in its early stages, outsiders may think that if they didn't buy Bitcoin at a low price, they have already missed the opportunity, especially since Bitcoin has surpassed $100,000," he said.
In 2025, Bitcoin set multiple historical highs, with the most recent being on August 14, when it first broke through $124,000.
Meanwhile, Tom Bruni stated that as altcoins, stablecoins, and other blockchain technologies develop, Bitcoin's dominance may decline, but it is still expected to remain an anchor in many investors' portfolios.
"Ultimately, performance determines allocation choices; as long as Bitcoin's returns remain in sync with the overall ecosystem, most people will not completely avoid holding Bitcoin," he said.
According to Cointelegraph, Qin En Looi, managing partner at venture capital firm Onigiri Capital, stated that early adopters have held Bitcoin, while most latecomers will only enter when Bitcoin integrates into the traditional financial system and can be accessed through banks, wealth management institutions, or retirement products.
"As infrastructure gradually improves, the number of zero holders will decrease, but this process will be slower than many expect, as trust needs to be built systematically," he said.
Qin En Looi believes that Bitcoin's role is evolving but will not disappear, as it serves as the benchmark for the entire cryptocurrency market, just as gold remains a reference standard in traditional finance.
"What we are seeing is not a decrease in correlation, but an expansion of correlation; stablecoins, asset tokenization, and application-layer related projects are now also in the spotlight."
Related: Crypto Executives: Stablecoins Need Consumer Protection to Replace Existing Payment Giants
Original: “Bitcoin (BTC) is now just one of many ways for retail users to enter the cryptocurrency space”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
