Adam Back, the British cryptographer and early Bitcoin advocate, has issued a warning to retail investors. He stated that the opportunity to own a whole Bitcoin is dwindling. In a post on X, Back wrote,

“The Wholecoiners peak is near. Hurry up, time is running out.”

A Wholecoiner is someone who owns at least 1 BTC. With the total supply of Bitcoin capped at 21 million, the number of people who can own a full coin may soon reach its peak. As more institutions and public companies buy Bitcoin, the supply available for individual investors continues to decrease.

Retail Investors Face Many Barriers

Back responded to user X @MacroMinutes, who argued that retail investors may have been overvalued. Back acknowledged this trend and said that,

“some people are selling their btc to ETFs and pubCos. you guys: HODL. you won't be able to buy them back anytime soon.”

He added that other users are still buying and calling this the “path.”

The rising cost of Bitcoin is a factor behind this urgency. As of the time of reporting, the price of Bitcoin is $107,299, after previously peaking at $110,269, based on Coingecko data. The trading price is just 4% lower than the all-time high of $111,814. More and more retail investors are finding it difficult to accumulate enough coins at this price.

Institutional Demand Continues to Rise

Adam Back's comments align with the broader accumulation trend of institutions. Companies like Strategy, BlackRock, and Binance have added large volumes of Bitcoin to their balance sheets and ETFs. Back argues that this trend reduces available supply and drives long-term price growth.

As CoinCu previously reported, Back predicts Bitcoin could reach $1 million by 2030. He points to the increasing interest from institutions and long-term holding patterns as supporting factors for this forecast.

Although the price is decreasing in the short term, Back's warning encourages long-term thinking. The total supply of Bitcoin continues to decrease due to mining limits and increasing demand. Back's message remains simple: "stack fast" before buying a whole Bitcoin becomes out of reach for most investors.