As a seasoned crypto investor with over a decade of experience navigating the digital frontier, I’ve witnessed the incredible evolution of Bitcoin from an obscure concept to a global phenomenon. The recent revelation that institutions have become the dominant holders of Bitcoin, pushing private entities like us off the top 10 list, is both fascinating and slightly disconcerting.
Over the past few years, as Bitcoin has gained wider acceptance, an increasing number of institutions are investing in this digital currency to minimize their risks. This strategic move has led to a significant increase in institutional ownership over the last four years. Nowadays, these large entities have amassed such a considerable amount that they are the major holders of Bitcoin. In fact, the leading Bitcoin wallets today only contain Bitcoin held by institutions, with the exception of Satoshi Nakamoto, the creator of Bitcoin.
Top 10 Bitcoin Wallets Revealed
On his recent post (previously Twitter), crypto expert Marty Party highlighted an intriguing trend concerning Bitcoin’s main holders. By sharing a screenshot on the social network, Marty disclosed that major governments and financial institutions have taken over the top spots in the Bitcoin ownership hierarchy.
Among the remaining individuals on the list is the enigmatic figure believed to be Bitcoin’s creator, Satoshi Nakamoto, whose initial stash of 1.1 million Bitcoins remains untouched. In contrast, the following 10 wallets are controlled by different governments and corporations, suggesting a shift in ownership away from individual private holders in the early days of cryptocurrency.
The second-ranked platform is Binance, the world’s largest cryptocurrency exchange, which holds approximately 550,133 Bitcoins. Coming in third is new entrant BlackRock, whose Bitcoin ETF debuted in January 2024. In just under a year, BlackRock has accumulated an impressive 347,767 Bitcoins.
Fourth on the list is Grayscale, recognized for launching the first U.S.-based Bitcoin Trust. However, throughout 2024, it experienced withdrawals as investors shifted to other Spot Bitcoin ETF providers. Consequently, its Bitcoin holdings decreased from approximately 600,000 to 263,801.
Moving forward, MicroStrategy ranks as the fifth-biggest global owner of Bitcoins, possessing approximately 226,500 units. Notably, MicroStrategy has expressed no intention of offloading its Bitcoin holdings and has even disclosed a strategy to procure an additional $2 billion worth of Bitcoin.
In sixth place among exchanges is Bitfinex, holding approximately 221,315 Bitcoins, trailed closely by the U.S. government with around 213,246 Bitcoins. The Chinese Government ranks eighth with roughly 190,000 Bitcoins. What makes these government holdings unique is that they acquired their Bitcoins not through purchase, but as a result of confiscations from various individuals.
Following the approval by the Chinese government of Fidelity’s FBTC Spot Bitcoin ETF fund, the asset manager now holds approximately 176,626 Bitcoins, placing it ninth on the list of Bitcoin holders. Similarly, Block One has also entered the top 10 with about 164,000 Bitcoins under its control.
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2024-08-15 13:56