In total, nearly 1 in 2 retail participants in a CoinGecko study consider Bitcoin to be the most important asset in their crypto portfolio strategies. 28.0% of survey participants indicated that Bitcoin is the main holding in their crypto portfolio, alongside a smaller selection of altcoins, making it the most popular allocation approach. The next most popular approach was shared by 20.4% who said that their crypto portfolio is built almost entirely around Bitcoin.
These Bitcoin-focused crypto portfolio strategies are perhaps informed by a variety of views: Some participants may be denominating in Bitcoin as they wait for a rotation to more risk-on altcoins, while others may prefer allocating mostly to Bitcoin regardless of market conditions.
Meanwhile, 1 in 4 crypto participants consider Bitcoin to be less important in their crypto portfolio strategies, instead giving more weightage to altcoins. Specifically, 17.3% expressed that as part of their diversified crypto portfolio, Bitcoin has a similar allocation as altcoins – which might include anything from other large market capitalization crypto, to a barbell strategy with memecoins. Another 10.2% of participants indicated that they mostly focused on altcoins, with Bitcoin forming just a small part of their crypto portfolio.
In other words, a sizable minority of crypto participants have chosen higher risk portfolio strategies to chase higher potential returns, but still want to anchor on Bitcoin as a hedge.
On the other hand, 15.9% of survey participants felt that Bitcoin is completely irrelevant for their crypto portfolios, and preferred to allocate only to altcoins. In their pursuit of outsized returns, such participants likely do not see the need for Bitcoin exposure because of its relatively limited upside potential. Participants may also have been deterred from holding Bitcoin due to unit bias.
Notably, participants who identified as traders and builders were roughly twice as likely to minimize Bitcoin allocation in their crypto portfolios, compared to those who identified as investors.
The remaining 8.2% of participants did not have a crypto portfolio at the time. Compared to participants in their second crypto market cycle or above, newcomers experiencing their first cycle were almost 5 times more likely to fall into this category.
How Have People Positioned for Bitcoin Post-Halving?
Since the 2024 Halving, the most common positioning has been to simply hold onto Bitcoin and wait, which was the main action taken by 34.6% of survey participants. The second most common positioning has been to accumulate Bitcoin, with 26.2% of participants dollar-cost averaging (DCA) or regularly buying more to increase their holdings.
This means that 3 in 5 crypto participants have consistently expressed their conviction in or bullishness on Bitcoin over the last year, aligning their portfolio with their expectations of another all-time high.
Whereas 1 out of every 4 participants were more conservative or cautious about their Bitcoin exposure. 17.3% have been sidelined with little to no involvement post-Halving, while 11.1% have mainly been selling to take profits or reduce exposure.
Finally, 10.7% of participants indicated that they have mostly been trading Bitcoin post-Halving – namely active buying and selling over short periods of time, instead of taking long-term positions.
Methodology
The study examined 2,549 crypto participants’ responses in the anonymous CoinGecko Bitcoin Survey, which ran from August 22 to September 11, 2025. Survey results should be taken as indicative only.
Among the survey participants, 68% considered themselves as crypto investors with mainly long-term holdings, 20% identified as traders with mainly shorter-term holdings, 7% as builders and 5% as sidelined spectators. In terms of how long participants had been in crypto, 38% were in their first cycle (0 to 3 years in crypto), 41% in their second cycle (4 to 7 years) and the remaining 21% of participants were veterans with 8 or more years of experience. Geographically, participants were mainly from Europe (31%), Asia (26%) and North America (22%), while the rest were in Africa, South America or Oceania.
This study is for illustrative and informational purposes only, and is not financial advice. Always do your own research and be careful when putting your money into any crypto or financial asset.