CENTRALIZED TREASURIES NOW HOLD 31% OF ALL BITCOIN – REPORT

- A new report by Gemini and Glassnode shows that over 6.1 million BTC, worth around $668 billion, is now held by centralized entities.

- That’s 31% of Bitcoin’s circulating supply, concentrated in just 216 organizations.

These include:

- Exchanges

- ETFs and funds

- Public and private companies

- DeFi contracts

- Governments

- Since 2015, treasury-controlled BTC has surged by 924%, up from 600,000 to 6.1 million coins. Over the same period, Bitcoin’s price jumped from under $1,000 to over $100,000.

- The top 3 holders in each category, especially in ETFs, DeFi, and public firms control 65% to 90% of the supply. Private company holdings are more evenly spread, the report notes.

- BlackRock’s IBIT ETF holds 661,400 BTC, over 3% of total supply, making it the largest institutional holder. As a result, BlackRock surpasses Binance (629,190 BTC) and MicroStrategy (582,000 BTC).

- Sovereign wallets like those of the US, China, Germany, and UK, show little trading activity.