Bitcoin is the largest blockchain-based digital asset. It is wildly popular among cryptocurrency enthusiasts and speculative investors. At one time, individuals held the most bitcoin as an investment. However, the top bitcoin investors are no longer individuals because exchanges, brokerages, and businesses have taken over as the largest bitcoin holders
Satoshi Nakamoto
While not an investor in the traditional sense, Satoshi Nakamoto, the anonymous Bitcoin creator, is rumored to hold the most bitcoin. Many interested people have investigated addresses thought to be used by this figure and concluded that Nakamoto holds 1.1 million bitcoins (more than $68 billion at May 2024 market prices).
The first address used by Nakamoto, called the Genesis address, includes the first 50 bitcoins ever transferred. It is also subject to occasional donations from some Bitcoin enthusiasts, with more than 49 BTC sent to it since Nakamoto disappeared.
Binance
The largest cryptocurrency exchange by trading volume invests in bitcoin as a client safety measure. According to its Proof-of-Reserves page and report, the exchange holds a bitcoin-to-client deposit ratio of at least 1:1, a whopping 617,534.194 BTC on May 8, 2024 (106.06% of customer holdings). This policy ensures that the exchange can honor its commitment to ensuring the safety of its customer's assets.
Grayscale
One of the first businesses to create investing products related to bitcoin, Grayscale's Bitcoin Trust ETF (GBTC) is one of the most popular bitcoin investments besides bitcoin itself. On May 8, the ETF held 292,267.9983 BTC, allowing investors direct access to price changes.
The ETF was originally a trust that held bitcoin until January 2024. That month, the Securities and Exchange Commission approved 11 spot bitcoin ETFs, which caused a flurry of outflows from GBTC to other investments. However, as of May 2024, GBTC remained the largest bitcoin holder among brokerages.
Grayscale is owned by Digital Currency Group, a venture capital firm heavily invested in the cryptocurrency and blockchain industries. The group also owns or invests in many other well-known brands, such as the cryptocurrency exchanges Blockchain and Kraken, and blockchain development companies Polygon, Ripple, and Lightning Labs.
BlackRock iShares
BlackRock's iShares Bitcoin Trust (IBIT) is another of the ETFs approved by the SEC in January 2024. Its management quickly built up its holdings over the following months, reaching 274,322.38310 BTC in May 2024.
Microstrategy
It's no secret that the co-founder and CEO of business intelligence firm MicroStrategy, Michael Saylor, believes that bitcoin is the next evolution in finance. He is one of the most vocal bitcoin proponents, frequently tweeting and publicly supporting it via the media, conferences, and gatherings.
MicroStrategy continues purchasing bitcoin and held a total of about 214,400 bitcoins in May 2024.
Stay with us to learns more.
