According to CoinMeta, research by Grayscale shows that the number of Bitcoin holders continues to rise, driven mainly by three trends: first, government deficits are prompting investors to turn to alternatives such as Bitcoin as a store of value; second, the popularization of blockchain technology, with stablecoins and tokenization bringing blockchain into everyday finance; and third, a shift in investment portfolios, with younger investors investing in Bitcoin through channels such as exchange-traded products ( ETPs ).