As Bitcoin continues to gain mainstream acceptance, more institutions are choosing to include the cryptocurrency in their portfolios. This trend has been on the rise for the past four years, with institutions significantly increasing their holdings of Bitcoin. The result of this surge is that large institutions now dominate the list of top Bitcoin holders, with private individuals being largely pushed out. The only exception to this is Bitcoin creator Satoshi Nakamoto, who still holds 1.1 million BTC in their original wallet.
A recent social media post shared by crypto pundit Marty Party shed light on the shifting dynamics of Bitcoin ownership. According to Marty, governments and institutions now make up the majority of the top holders of the cryptocurrency. Private entities have been all but eliminated from the list, with the top 10 wallets belonging to various governments and companies. This marks a significant departure from the early days of Bitcoin, where private holders were more prevalent.
At the top of the list is the Binance crypto exchange, holding 550,133 BTC. Following closely behind is BlackRock, a newcomer to the cryptocurrency space, with 347,767 BTC in their IBIT Spot Bitcoin ETF. Grayscale, known for introducing the first Bitcoin Trust in the US, holds the fourth spot with 263,801 BTC. Despite facing outflows in 2024, Grayscale remains a formidable player in the Bitcoin market.
MicroStrategy comes in fifth on the list, with 226,500 BTC in their holdings. The company has made it clear that they have no intentions of selling their Bitcoin anytime soon and has plans to raise an additional $2 billion to buy more BTC. This unwavering commitment to Bitcoin has solidified MicroStrategy’s position as a major player in the cryptocurrency space.
The Bitfinex Exchange and the US government hold the sixth and seventh positions on the list with 221,315 BTC and 213,246 BTC respectively. The Chinese government follows closely behind with 190,000 BTC, obtained through seizures from individuals. Fidelity, with its FBTC Spot Bitcoin ETF fund, holds 176,626 BTC, securing the ninth spot. Rounding out the top 10 is Block One, with 164,000 BTC in their possession.
The rise of institutional Bitcoin holders is a significant development in the cryptocurrency landscape. As more governments and institutions enter the market, the dynamics of Bitcoin ownership continue to evolve. Private individuals are no longer the dominant players, with institutions now taking the lead in terms of Bitcoin holdings. This trend is likely to continue as Bitcoin gains more widespread acceptance and adoption in the financial world.
