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100% of Bitcoin Holders in Profit as Saylor Declares: ‘No One Ever Lost Money Buying BTC’
May 22, 2025
Bitcoin and Saylor
Strategy executive chairman Michael Saylor said long-term Bitcoin holders haven’t lost money, as BTC hits a new all-time high.
Bitcoin surged past $111,800 on Thursday, marking a new record as Treasury yields rose following a weak 20-year U.S. bond auction. The price of the leading digital asset rebounded sharply from a brief dip to $106,000 earlier in the week.
It reclaimed its previous peak of $109,200 on Wednesday before setting a new record near $112,000. The broader market responded positively, with crypto sentiment buoyed by the strong price action.
No One Lost Money Buying Bitcoin
This price action notably prompted commentary from Michael Saylor, chairman of Strategy (formerly MicroStrategy). In an X post, he reiterated the view that “no one has ever lost money buying Bitcoin.”
This sentiment was echoed by popular crypto influencer Altcoin Daily, which noted that, in Bitcoin’s 16-year history, 100% of holders are currently in profit.
100% of Bitcoin holders (in its 16-year history) are in profit.
— Altcoin Daily (@AltcoinDailyio) May 22, 2025
All Bitcoin Wallets in Profit
Indeed, on-chain data from IntoTheBlock confirmed that the entire tracked Bitcoin supply is currently held at a profit. Specifically, the “In The Money” wallets, those holding BTC purchased below the current market price, now account for 100% of all holdings, totaling 19.89 million BTC. The value of these profitable holdings is estimated at approximately $2.21 trillion.
Bitcoin Global InOut of the Money
At the same time, no wallets are classified as “Out Of The Money,” meaning there are currently zero tracked BTC holdings at a loss. This reflects that Bitcoin’s market price now exceeds all historical purchase prices among wallets included in the dataset.
However, it’s important to note that this data reflects only unrealized gains and does not account for any realized losses from those who sold at a dip.
Short Liquidations Intensify
Meanwhile, activity in Bitcoin’s derivatives markets has intensified alongside the price rally. Trading volume rose by over 84%, reaching $221 billion, while open interest climbed 17%, signaling a surge in leveraged positions.
Funding rates remain positive across major exchanges, indicating that long traders are paying to maintain positions, an indicator of sustained bullish sentiment.
Bitcoin Derivative Data
Meanwhile, short sellers have faced steep losses. More than $173 million in shorts were liquidated over the past 24 hours, while only $51.61 million in long positions were liquidated.
Options volume also grew significantly, rising 85% as traders positioned for continued volatility or hedged existing bets.
Key Resistance Levels and Market Indicators
As Bitcoin hovered near $112,000, analysts are assessing the next potential resistance. Joe DiPasquale, CEO of BitBull Capital, pointed to $120,000 as the next major technical target. He noted that this level aligns with longer-term Fibonacci extensions, offering a benchmark for continued upward momentum.
Furthermore, DiPasquale emphasized that ETF inflows and funding rate trends remain key indicators in gauging the sustainability of the rally.
According to his outlook, continued strength in these metrics and favorable macroeconomic conditions could support a move toward $120,000 within weeks. He added that price action at these levels is expected to remain volatile, especially as resistance levels break and more capital re-enters the market.
Meanwhile, other veteran analysts like Peter Brandt believe Bitcoin could go to $150K in the next three months.
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