One of the mysteries of the English language finally explained.
1historical A person who holds a bottle; specifically a second responsible for a contestant's water bottle during a boxing match (now historical).
2figurative, rare Figurative. A supporter or backer, especially in a conflict; an ally; a defender; an apologist. Now rare.
3A device or receptacle for holding a bottle or bottles, especially one which holds an (open) bottle in an upright position.
Late 18th century; earliest use found in Whitehall Evening Post. From bottle + holder.
bottle holder/ˈbɒtl ˌhəʊldə/
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