As Bitcoin has become more mainstream, more and more institutions are starting to hedge their bets with the cryptocurrency. Over the past four years, institutions have grown their holdings exponentially, and the result is that these large institutions have become the most dominant holders of Bitcoin. So much so that the best Bitcoin wallets currently no longer contain any private holders, except for Bitcoin creator Satoshi Nakamoto.
Top 10 Bitcoin Wallets Revealed
In an X (formerly Twitter) message, crypto expert Marty Party says shared an interesting development when it comes to the Bitcoin holding base. In a screenshot shared on the social media platform, Marty revealed that governments and institutions now dominate the list of top holders for the cryptocurrency.
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The only “private entity” still on the list is Bitcoin founder Satoshi Nakamoto, whose original holdings of 1.1 million BTC remain untouched. The following 10 wallets are owned by various governments and companies and tell a story of the complete elimination of private holders in the pioneering cryptocurrency.
In second place is the crypto exchange Binance, the largest exchange in the world. It currently owns 550,133 BTC. Binance is followed by newcomer BlackRock, whose IBIT Spot Bitcoin ETF went live in January 2024. In less than a year, BlackRock has managed to amass a whopping 347,767 BTC.
Fourth on the list goes to Grayscale, which is notable for introducing the first Bitcoin Trust in the United States. Grayscale has experienced outflows over the course of 2024 as investors switched to other Spot Bitcoin ETF issuers. As a result, BTC ownership has dropped from over 600,000 to 263,801.
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Next on the list is MicroStrategy as the fifth largest Bitcoin holder in the world, with 226,500. Interestingly, MicroStrategy has said it has no plans to sell its Bitcoin anytime soon and has revealed plans to raise another $2 billion to buy BTC.
The Bitfinex Exchange cliches sixth on the list with 221,315 BTC, closely followed by the US government with a remarkable 213,246 BTC. Next is the Chinese government in eighth place with 190,000 BTC. The interesting thing about the governments on the list is that the BTC was not purchased, but rather obtained from seizures from individuals.
Following the Chinese government is Fidelity with its FBTC Spot Bitcoin ETF fund. The billion-dollar asset manager currently owns 176,626 BTC, placing it at ninth position on the list. While Block One made it to the top 10 with 164,000 BTC.
Featured image created with Dall.E, chart from Tradingview.com