A new report from Gemini indicates that centralized Bitcoin treasuries now command 30.9% of the total circulating supply, highlighting the increasing involvement of institutions in the cryptocurrency market.
Rise of Institutional Bitcoin Treasuries
The total amount of Bitcoin held by major institutional and custodial entities has skyrocketed to 6,145,207 BTC, representing a 924% increase over the past decade.
Market Maturation and Institutional Legitimacy
According to a joint report by Gemini and Glassnode, three entities dominate Bitcoin adoption among institutions, holding between 65% and 90% of total BTC. Private company holdings, however, show a more even distribution.
Sovereign Bitcoin Treasuries
Government-held Bitcoin reserves have significantly grown, especially in the US, China, the UK, and Germany. In the US, for example, over 200,000 BTC have been confiscated through law enforcement actions.
Thus, the concentration of Bitcoin in centralized treasuries not only reflects active institutional participation in the cryptocurrency sector but also their influence over the market as a whole.
