$BTC / USDC

More than 30% of the circulating supply of Bitcoin is now in the hands of only 216 central entities.

Clearly a shocking number that reflects a significant shift in the market structure.

This shift indicates two main trends:

Accelerating institutional adoption of Bitcoin.

Increasing centralization in custody services.

With the flourishing of institutional custody services, we notice an increase in the concentration of control over Bitcoin, which is a development that opens the door to strategic opportunities, but at the same time raises questions about the future of decentralization.

📉 The data shows how exchanges, funds, companies, and governments have gradually increased their shares.

In your opinion, is the continued acquisition by institutions of the majority of the supply a positive or negative thing?