CryptoQuant names states, ETF issuers, and MicroStrategy as the largest holders of BTC

Among the identified owners of the first cryptocurrency, their share is 31%

23.12.2024 - 10:20

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What’s new? The head of the analytical blockchain company CryptoQuant, Ki Young Ju, has presented data on the distribution of bitcoin accumulations among the identified holders of the asset. Currently, investment companies managing spot bitcoin exchange-traded funds (ETFs), various governments, and analytics software company MicroStrategy collectively hold 31% of the coins in the accounts of identified holders.

Source: X.com

What else is known? A year earlier, the combined share of these three groups of identified holders was only 14%. As for the other groups, centralized crypto exchanges (CEXs) and mining companies remain the largest holders of the first cryptocurrency. In turn, the share of decentralized financial (DeFi) protocols decreased significantly over the year.

If the distribution of bitcoin also takes into account unknown users and companies, they still hold the majority (they own about 75% of the coins).

Spot bitcoin exchange-traded funds were launched in the United States in January 2024. A number of major investment companies, including BlackRock and Fidelity, launched their own ETFs on leading US stock exchanges.

Since the launch, they have accumulated $109,72 billion worth of bitcoins under management or 5,75% of the asset’s capitalization.

MicroStrategy began investing in bitcoin in late 2020 to hedge inflation and has since become the largest holder of the asset among publicly traded companies.

It holds a total of 439 000 BTC worth more than $41 billion, and its shares under the ticker MSTR have risen 2390% in the five years since the bitcoin strategy was introduced.

Several nations also have bitcoin holdings. For example, the US holds coins confiscated from offenders, while El Salvador uses state budget funds to purchase the asset.

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