Ultimate winners? Aside from early miners then to those who had able to buy when its still cheap wayback in 2010 and still holding for this very moment.

In regards into this question then of course to those who had invested bigger would really have the advantage on making profits when the market tends to rise up.
The more money you had invested the more profit you would gain same goes on losing it too and this is no brainer.
Is it really that important to point out which is the ultimate winner?

Institutions adopt bitcoin when it comes popular in the mainstream and it also a rumors to everyone. That is how they will adopt bitcoin and most commonly accept it as a mode of payment method. On the other hand, what about the holders and invested bitcoin when a bearish market come, they surely get profit by now but among others, I guess they prefer to still hold for a better future when it comes to finances.

The ultimate winner could be the holder of bitcoin since 2018 when bitcoin experienced a massive drop that almost become the price to the buttom.

Ultimate winner? How about whales? Aren't they considered as ultimate winner? As far as I know, you would be called one of the ultimate winner if you frequently gained profit during the bull run and still keep making profit while owning a huge BTC in your wallet. Then there are these big institutions adopting Bitcoin, making the price to pump like crazy and if more and more bigger institutions are adopting Bitcoin then I think those who owns more Bitcoin may be the most ultimate winner.

Institutions who have invested before the bull run like Grayscale. They're in great profit and I think it was estimated a billion or more. Everyone who have bought before $20k-$30k, we're all winners.

And mostly, those who have held between 2018-2020. Those were the greatest days of accumulation December of 2018 and March 2020. Have to sell and take profit when it had come from $39k-$42k.

Pretty much anyone who bought or mined through January 1, 2021 (and hopefully this continues) got the benefit of it.  Assuming they didn't sell.  In short, anyone who didn't try and time the market has done well.

As far as institutions, most are buying for the long haul - years - not days, weeks, or months.

And who says this is a "pump".  Was it a pump from and of these points to the next: 0.10 to 1 to 10 to 100 to 1000 to 2000 to 10000 to 30000?  Or was it just natural increase in demand?

It is true, that the increase in bitcoin has had a huge impact on the holder who has held it for a long time and was looking forward to the increase and now he really enjoys the meaning of waiting for the long term investment of bitcoin.
because Bitcoin continues to update its ATH which is indeed amazing at this time.

But we also know that before the increase occurred from bitcoin, the pandemic hit the whole world, and I'm not sure there are still many individuals who can save patiently because the needs during the pandemic must also be considered. maybe there would still be if he had not experienced the crisis that hit him, but the beneficiaries were obviously the big traders and companies that could and were able to do that and had little impact.

that's why I don't see the happiness of many people with the increase in bitcoin, it could be because many have sold it. if only altcoins also increase at the same time maybe a lot of help, I hope this year altcoins can reach ATH.

the winner? of course that holds large amounts of bitcoin. for retail investors who buy little by little, they can also be said to be winning or winning even a little. while the biggest winners are, people or investors who may often be referred to as "whales" because they own large amounts of bitcoins.
what about the bounty hunter? The bitcoin pump should have been their win if only the project went well and was launched into a good exchange market, while the coin price was still in an uptrend.

It seems that this year, in my opinion, it is not the part of us who can enjoy the overall benefits of the bitcoin bull run. You probably already know who greedily makes billions of profits in today's market. whales, big miners, companies that adopt too much bitcoin without the maximum limit. and we can only watch without being given a chance like 2017.

Bitcoin's can't be more affordable or less affordable, the minimum investment amount is so small that it's not going to be a problem ever. In 2017 any investor, big or small, could double their money withing months or even weeks and days in the later stages. The same is happening now - Bitcoin went from 10k to 40k, and everyone has equal access to it.

The recent google trends data shows that retail investors started joining at around $35,000, though of course they were always present on this market. Overall it's still the individual investors who are winnings the most, as those are the people who hold the most coins.