😱 Just 216 Wallets Control Over 6 Million Bitcoins! Is BTC Becoming Too Centralized?
Bitcoin $BTC is starting to look a lot less decentralized than we thought! 😳 A new report from Gemini and Glassnode shows that just 216 major entities—like crypto exchanges, ETFs, big companies, and even governments—now hold more than 6.1 million BTC, worth over $668 billion 💰. That’s nearly one-third of all Bitcoin in circulation! Binance alone has over 3 million BTC, and huge public firms like MicroStrategy (now Strategy) hold large chunks too.
What’s more surprising is how dominant the top players are 😲. In many categories like ETFs and public companies, the top 3 holders own up to 90% of the total Bitcoin within their group. And instead of being stored on regular exchanges, much of this Bitcoin is now moving into ETFs and institutional custody like BlackRock’s iShares Bitcoin Trust (IBIT), which has become the second-largest BTC holder after Satoshi Nakamoto’s legendary stash 🏦📊.
So what does this all mean? Bitcoin is maturing—trading less on-chain and more on regulated platforms like ETFs and derivatives markets 📉➡️📈. This has helped reduce price volatility, but also raises concerns about centralization. Bitcoin started as a people-powered movement for financial freedom—but now it's becoming a Wall Street favorite and a “strategic store of value” for big institutions. As BTC climbs past $100,000, one big question remains: Is Bitcoin still truly decentralized? 🤔🔐
