Bitcoin is no longer just a bet for crypto natives itâs now a strategic reserve asset for the worldâs most powerful institutions.
According to a groundbreaking joint report from Gemini and Glassnode, institutional entities now control 30.9% of all BTC thatâs approximately 6.1 million $BTC , valued at over $668 billion at current prices.
Whoâs Holding the Bag?
The centralization of Bitcoin holdings is becoming increasingly clear, with three major categories leading the charge:
đď¸ Governments
𧞠ETF Providers
đ˘ Public Companies
The largest holder? None other than BlackRock, the $11.5 trillion asset management behemoth.
Through its iShares Bitcoin Trust (IBIT), BlackRock has amassed over 665,000 BTC thatâs more than 3% of Bitcoinâs total circulating supply, worth approximately $73 billion.
A Decade of Institutional Accumulation
To put things in perspective:
In 2013, institutional holdings were virtually non-existent.
As of 2024, they've grown by +924% in just over a decade.
Over the same period, BTC surged from under $1,000 to over $100,000, cementing its role in macro portfolios.
This is more than adoption itâs a shift in global capital strategy.
đ BlackRockâs Endgame: Crypto Dominance
BlackRock isnât slowing down.
Its stated goal? To become the worldâs largest crypto asset manager by 2030. With ETF flows steadily rising and Bitcoinâs reputation evolving from âdigital goldâ to digital reserve currency, the mission seems well within reach.
Meanwhile, Bitcoinâs hashrate recently hit an all-time high, showcasing growing network strength even as supply on exchanges continues to decline. Institutions are not just buying theyâre holding.
What This Means for the Future
đ Supply is shrinking as whales accumulate.
đ§ Bitcoin is being treated as a macro hedge, not a speculative asset.
đ° Institutional custody is fueling new ETF products, retirement portfolios, and sovereign funds.
The message is clear: Bitcoin is no longer fringe finance itâs becoming the foundation of modern institutional portfolios.
