As of November 26, 2024, 93 major institutions hold over 2.8 million bitcoins, valued at $260 billion, accounting for 13.4% of the total Bitcoin supply.
At this rate, Bitcoin will be driven up to the sky by these institutions, right?
By business classification, the top Bitcoin holdings are ranked as follows:
The top-ranked industry is ETFs, which already hold 5.97% of Bitcoin.
The leading ETFs are all from the United States, so most ETFs were established in 2024.
BlackRock alone holds 40% of the entire Bitcoin ETF market share, possessing nearly 500,000 bitcoins, making it the largest buyer of Bitcoin this year.
The second-ranked industry is national governments:
The first place goes to the United States, holding about 1% of bitcoins. If a federal reserve is established in the future, this holding ratio may increase.
According to a 2022 report, the Chinese government still holds 194,000 bitcoins, but there are also data indicating that many bitcoins might have been sold in the past two years.
Surprisingly, Ukraine, which is currently at war, also has over 40,000 bitcoins, placing it fourth among national governments; it seems the Ukrainian government has good foresight.
The German government cleared its Bitcoin holdings mid-year; the SB who made that decision is probably regretting it now.
The third-ranked industry is publicly listed companies:
The first-ranked is the famous MicroStrategy, which holds 386,700 bitcoins, more than the U.S. government.
Interestingly, Tesla ranks fourth on this list, holding 9,720 bitcoins, trailing only behind mining companies Mara and Riot, surpassing Coinbase.
Major private companies also hold over 300,000 bitcoins, mainly in the crypto industry:
Ranked first, Block.one was originally focused on EOS, but now has profited greatly by holding BTC, even surpassing Tether in BTC quantity.
In comparison, major mining companies hold relatively few bitcoins; the top-ranked Marathon has only over 30,000 bitcoins.
The total holdings of all major mining farms is less than 70,000 bitcoins; the pricing power of mining farms over Bitcoin is weakening.