A recent joint report from Gemini and Glassnode reveals a significant shift in Bitcoin ownership dynamics, indicating that centralized entities now control approximately 31% of all Bitcoin in circulation. This equates to over 6.1 million BTC, valued at around $668 billion. The surge in institutional ownership signals Bitcoin's maturation as a strategic asset.
Central governments hold substantial amounts, totaling 529,705 BTC valued at over $57 billion. The U.S. leads the way with 207,189 BTC, followed by China and the U.K. Notably, most of these holdings stem from seizures rather than open market acquisitions.
Exchange-Traded Funds (ETFs) are becoming increasingly dominant, now managing 1,390,267 BTC worth about $150 billion. BlackRock's iShares Bitcoin Trust ranks as the largest holder, keeping 665,638.1 BTC to its name. This meteoric rise in institutional confidence in Bitcoin underscores its appeal as a long-term investment.
On the corporate front, public companies have ramped up their Bitcoin purchases, amassing a combined 763,479 BTC valued at $82.38 billion, led by MicroStrategy with an impressive 582,000 BTC in reserves. This trend highlights corporations' growing view of Bitcoin as a hedge against inflation and economic volatility.
The report also reiterates the role of centralized exchanges, which currently hold around 2.5 million BTC, although much of it likely belongs to retail users, not the exchanges themselves.
In contrast, private companies possess around 457,870 BTC, in a more diversified manner. Noteworthy holders include Block.one and Tether Holdings.
Over the past decade, institutional holdings of Bitcoin have skyrocketed by 924%, a period during which its price has surged from under $1,000 to over $100,000. This correlation between institutional interest and Bitcoin's price suggests increased stability and acceptance in the market, even as Bitcoin continues to be a risk-oriented asset subject to market fluctuations.
The report ultimately highlights Bitcoin's structural evolution. As major entities hold larger shares, the cryptocurrency is entering a phase of increased institutional validity, yet it remains subject to various market risks.
Central governments hold substantial amounts, totaling 529,705 BTC valued at over $57 billion. The U.S. leads the way with 207,189 BTC, followed by China and the U.K. Notably, most of these holdings stem from seizures rather than open market acquisitions.
Exchange-Traded Funds (ETFs) are becoming increasingly dominant, now managing 1,390,267 BTC worth about $150 billion. BlackRock's iShares Bitcoin Trust ranks as the largest holder, keeping 665,638.1 BTC to its name. This meteoric rise in institutional confidence in Bitcoin underscores its appeal as a long-term investment.
On the corporate front, public companies have ramped up their Bitcoin purchases, amassing a combined 763,479 BTC valued at $82.38 billion, led by MicroStrategy with an impressive 582,000 BTC in reserves. This trend highlights corporations' growing view of Bitcoin as a hedge against inflation and economic volatility.
The report also reiterates the role of centralized exchanges, which currently hold around 2.5 million BTC, although much of it likely belongs to retail users, not the exchanges themselves.
In contrast, private companies possess around 457,870 BTC, in a more diversified manner. Noteworthy holders include Block.one and Tether Holdings.
Over the past decade, institutional holdings of Bitcoin have skyrocketed by 924%, a period during which its price has surged from under $1,000 to over $100,000. This correlation between institutional interest and Bitcoin's price suggests increased stability and acceptance in the market, even as Bitcoin continues to be a risk-oriented asset subject to market fluctuations.
The report ultimately highlights Bitcoin's structural evolution. As major entities hold larger shares, the cryptocurrency is entering a phase of increased institutional validity, yet it remains subject to various market risks.
