Bitcoin recently hit $100,000, which has put the currency at a historical stand as it asserts itself as a global financial asset. The price per coin for the cryptocurrency was $100,297 as of December 7, ranking seventh in the global market capitalization at $1.98 trillion. The distribution of Bitcoins among major players is determining future market developments.
According to statistical data from timechainindex.com, the top ten Bitcoin holders own 2,932,348.21 BTC, worth $294 billion. This amounts to approximately 14.82 percent of the currently circulating supply of Bitcoins, not counting unspent early block rewards.
Holding the largest proportion, Coinbase has 1,123,520.49 BTC worth Over $112 billion. In the second place, we have Binance, which retains 686,997.40 BTC, equivalent to $68.9 billion. BlackRock IBIT ETF is the third on the list with 520,861 Bitcoins and $52.2 billion. MicroStrategy, a business that trades on the stock exchange, takes fourth place and has 402,099.99 BTC for $ 40.3 billion. Another company occupying one of the top five places is Bitfinex, which currently holds 350,262.05 BTC valued at $35.04 billion. Combined, these five entities control 9.9% of all available Bitcoins supply.
After the top five, Grayscale takes the 6th spot with a total of 211,799.39 BTC or about $21.19 billion. Fidelity occupies the seventh rank with 201,043.88 BTC or $20.11 billion. The government of the United States, with 199,172.73 BTC, equivalent to 19.92 billion USD through seized assets, occupies the eighth position. The ninth position is occupied by an unknown person, Individual X, with 180,701.87 BTC worth $18 billion. Kraken's centralized exchange completes the top ten with 179409.90 BTC or $17.94 billion.
These parties constitute the expanding institutional stake and control over the outstanding number of bitcoins. Although companies such as Coinbase and Binance mainly safeguard Bitcoin for buyers, the reserves highlight the expansion of Bitcoin as an investment for companies and individuals.
Large acquisitions and ownership of bitcoins by several giant firms make people question whether or not the Bitcoin system is fully decentralized. Large-scale holders like Coinbase and Binance hold Bitcoin for millions of clients. Nevertheless, the interaction of government bodies, large-scale organizations such as MicroStrategy, and private persons such as the known "Individual X" combines the features of institutional and private investors.