As Bitcoin becomes more mainstream, more institutions are starting to hedge their risks with the cryptocurrency. Over the past four years, institutions have increased their holdings exponentially, resulting in these large institutions becoming the more dominant Bitcoin holders. So much so that the top Bitcoin wallets currently include no private holders other than Bitcoin creator Satoshi Nakamoto.
The 10 best Bitcoin wallets revealed
In a post on X (formerly Twitter), crypto expert Marty Party reported an interesting development regarding the Bitcoin holder base. In a screenshot shared on the social media platform, Marty revealed that governments and institutions now dominate the list of top holders of the cryptocurrency.
Related reading
The only “private entity” still on the list is Bitcoin founder Satoshi Nakamoto, whose original holdings of 1.1 million BTC remain unchanged. The following 10 wallets belong to various governments and companies and tell the story of a complete elimination of private holders of the pioneer cryptocurrency.
In second place is the crypto exchange Binance, the largest exchange in the world. It currently holds 550,133 BTC. Binance is followed by newcomer BlackRock, whose IBIT Spot Bitcoin ETF was launched in January 2024. In less than a year, BlackRock has managed to accumulate an incredible 347,767 BTC.
Fourth on the list is Grayscale, known for launching the first Bitcoin Trust in the United States. Grayscale suffered outflows throughout 2024 as investors switched to other spot Bitcoin ETF issuers. As a result, its BTC holdings dropped from over 600,000 to 263,801.
Related reading
Next on the list is MicroStrategy as the fifth largest Bitcoin holder in the world with 226,500. Interestingly, MicroStrategy has stated that it has no plans to sell its Bitcoins in the near future and has announced plans to raise another $2 billion to purchase BTC.
The Bitfinex exchange ranks sixth on the list with 221,315 BTC, closely followed by the US government with a notable 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 were not purchased but obtained through confiscations from individuals.
Following the Chinese government is Fidelity with its FBTC Spot Bitcoin ETF fund. The billionaire asset manager currently holds 176,626 BTC, ranking ninth on the list. While Block One made it into the top 10 with 164,000 BTC.
Featured image created with Dall.E, chart from Tradingview.com
