A report by Gemini
$100.53M
These groups collectively control around 6.1 million BTC
As institutions build up their reserves, the data suggested that they see Bitcoin as more than just a high-risk asset. Its role is starting to resemble that of a long-term store of value, similar to gold.
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During the same period, the price of Bitcoin rose from under $1,000 to over $100,000, which supports the idea that institutional interest plays a role in its growth.
That said, nearly half of the 6.1 million BTC is stored by centralized crypto exchanges. The Bitcoins are mostly held on behalf of individual customers, not the exchanges themselves. While it contributes to the total, it does not reflect direct institutional ownership.
Within each group, such as exchange-traded funds (ETFs), public firms, and decentralized finance (DeFi) platforms, the top three holders control a very large portion of the total, ranging from 65% to 90%. In comparison, Bitcoin held by private companies is more evenly spread.
The report also highlighted government-owned Bitcoin wallets. These tend to stay inactive for long periods and do not usually follow market price changes. Most of this Bitcoin comes from law enforcement seizures in countries such as the US, UK, Germany, and China, rather than from direct market purchases.
Recently, David Sacks, a senior adviser on artificial intelligence (AI) and crypto policy at the White House, shared his thoughts on the US government’s Bitcoin reserve. What did he say? Read the full story.
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