A significant portion of Bitcoin’s circulating supply is now held by centralized entities, including governments, exchange-traded funds (ETFs), and publicly listed companies. These entities collectively control approximately 30.9% of the total Bitcoin in circulation.
This translates to holdings of roughly 6.1 million BTC, valued at nearly $668 billion. This level of centralized ownership represents a dramatic 924% increase compared to holdings a decade ago.
Centralized cryptocurrency exchanges account for roughly half of the Bitcoin held by these centralized entities. Government-managed Bitcoin wallets, while showing minimal correlation with price fluctuations historically, possess substantial holdings that could potentially influence market dynamics.
This trend signifies a structural evolution within the Bitcoin ecosystem, pointing towards greater institutional participation. The report underscores the growing maturity of the Bitcoin market as institutional involvement deepens.