CryptoQuant CEO Ki Young Ju recently posted a chart showing the “Bitcoin Cap For Known Entities.” The new data reflects a 17 percent increase from known Bitcoin holdings in 2023, underscoring an increased adoption of the crypto. According to the chart, exchanges are the biggest BTC whales, followed by Miners, then ETFs/Funds, Governments, MicroStrategy, Private and Public Companies, and DeFi. Ju made it clear that the 31% here is “not 31 percent of all Bitcoin but 31% of known Bitcoin holders.” This data is justifiable as exchanges custody the largest amounts of Bitcoin for retail and institutional investors, making them the top holders of the crypto. As a result, they hold over 12 percent of all Bitcoin supply, with Coinbase holding the most (731,118 BTC), followed by Binance (573,128 BTC). Public Bitcoin mining companies like Marathon Digital, Riot Platforms, and others hold over 84,995 BTC, according to BitBO analytics. Meanwhile, Spot Bitcoin ETFs performed so well after their approval this year, amassing a heavy amount of Bitcoin. Among the top Spot BTC ETFs, BlackRocks IBIT Spot Bitcoin Trust alone holds 552,714 BTC. Grayscale Bitcoin Trust holds over 209,000 BTC, while Fidelity Wise Origin Bitcoin Fund (FBTC) has over 190,000 BTC in its custody. Additionally, governments that invariably have access to large funds, hold over 2.66% of the circulating Bitcoin supply. The top six state holders of Bitcoin include the US, China, the UK, Ukraine, Bhutan, and El Salvador. Together, they hold over 529,558 BTC, which is approximately $50B at the current price. The US alone has 207,189 BTC and is getting ready to create a Strategic Bitcoin Reserve starting next year. President Donald Trump’s Reserve vision was supported by Senator Cynthia Lummis’ Bitcoin Act of 2024, which will empower the creation of Trump’s “ strategic national US Bitcoin Stockpile.” Check out the full article 👇 https://lnkd.in/gD8Ftrtc
