As Bitcoin gains traction in the financial world, institutional interest in the cryptocurrency has surged remarkably. Over the past four years, these institutions have exponentially increased their Bitcoin holdings, emerging as the dominant players in the market. Today, the most significant Bitcoin wallets are controlled by major institutions, and individual holders, with the notable exception of Bitcoin’s creator Satoshi Nakamoto, are conspicuously absent from the top ranks.
Crypto commentator Marty Party recently highlighted this shift in a post on X (formerly known as Twitter). He shared a screenshot revealing that governments and large corporations now dominate the leaderboard of Bitcoin holders. The original holding of 1.1 million BTC by Satoshi Nakamoto remains untouched, but the rest of the top 10 wallets tell a different story, with no private individuals making the cut.
Among the top holders, Binance leads the pack, holding a substantial 550,133 BTC. Trailing Binance is BlackRock, which entered the Bitcoin market with its IBIT Spot Bitcoin ETF in January 2024. In less than a year, BlackRock has accumulated an impressive 347,767 BTC.
Grayscale, known for launching the first Bitcoin Trust in the United States, ranks fourth. Despite suffering investment outflows in 2024, causing its holdings to decrease from over 600,000 to 263,801 BTC, Grayscale remains a heavyweight in the Bitcoin space.
MicroStrategy follows as the fifth-largest Bitcoin holder with 226,500 BTC. The company has made it clear that it has no intentions of selling its Bitcoin anytime soon and plans to raise an additional $2 billion to acquire more BTC.
The sixth position is occupied by Bitfinex Exchange, which holds 221,315 BTC. The US government claims the seventh spot with 213,246 BTC, acquired through asset seizures rather than purchases. The Chinese government follows with 190,000 BTC, also seized from individuals.
Fidelity, through its FBTC Spot Bitcoin ETF fund, ranks ninth with 176,626 BTC. Completing the top ten is Block One, holding 164,000 BTC.
This shift in Bitcoin’s holder base underscores the increasing influence and control that institutions and governments are exerting over the cryptocurrency market. As Bitcoin continues to evolve, the implications of this consolidation of holdings are likely to be significant for the future of digital finance.
