[Galaxy: Approximately 11.1 Million Bitcoins Unlinked to Known Holders, Representing 55% of Total Mined Bitcoin] According to a report by CoinDesk on October 26th, a snapshot from Galaxy Research in October shows that of the approximately 20.1 million mined Bitcoins, about 11.1 million (approximately 55%) are located in addresses that cannot be linked to exchanges, funds, governments, or other known entities. Alex Thorn, Head of Research at Galaxy, stated that this indicates a significant amount of Bitcoin may still be self-custodied by individuals despite increasing institutionalization. Xapo Bank believes this reflects the fact that retail investors have been involved in the market for over a decade. However, this portion of unclaimed Bitcoin does not entirely belong to individuals who have long self-custodied their Bitcoin. It may also include coins inaccessible due to lost private keys or the death of the holder, holdings by institutions or over-the-counter traders not yet identified by Galaxy, and custodial assets scattered across multiple addresses. The remaining 45% has already been acquired, including by exchanges, ETFs issued by BlackRock and other issuers, and the US government; the single largest holder is "Satoshi Nakamoto (Patoshi model)," who holds 1,123,658 BTC.