Who Owns the Most Bitcoin and How Their Holdings Impact the Market

Who Owns the Most Bitcoin?

When we talk about who owns the most Bitcoin, it's not just about individual whales anymore. The landscape has shifted to massive entities—corporations, institutions, and even governments holding substantial amounts of Bitcoin, influencing the market in ways individual investors simply can't.

Satoshi Nakamoto: The Mysterious Giant

At the top of the list is Satoshi Nakamoto, Bitcoin’s elusive creator, who is believed to control around 1.1 million BTC, worth a staggering $67.6 billion. This stash remains untouched, and its potential movement could shake the market to its core.

Major Bitcoin Holders by Category

As of now, 92 entities collectively hold over 2.5 million BTC, accounting for 11.96% of the total Bitcoin supply. These entities include publicly traded companies, private firms, ETFs, and even countries. Read our explanation of what exactly is a spot Bitcoin ETF if you’re not sure what it is about.

Since the launch of spot Bitcoin ETFs in the U.S., this category has become the largest holder, overtaking other institutional investors. Let’s break it down by category:

Top 20 Bitcoin Holders

These are the big names that come up when you ask, how many bitcoins does MicroStrategy own or how much Bitcoin does BlackRock own. Let’s take a look at the top 20 entities holding Bitcoin today, regardless of category:

Source: Arkham Intelligence & Bitcoin Treasuries by Bitbo

There’s always some controversy around whether crypto exchanges like Coinbase and Binance should be counted as top holders. Why? Part of the Bitcoin supply they hold is technically owned by their clients. 

For example, Coinbase is a custody party for institutions like BlackRock, which complicates things a bit. However, we've listed them anyway, but bear in mind there’s a gap between what belongs to the exchanges and what are their customer assets.

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Can You See Who Owns the Most Bitcoin? 

Yes, you can see who owns the most Bitcoin—at least when it comes to publicly traded companies and ETFs. These entities have to disclose their holdings due to regulations, giving us a peek into how much BTC they’re holding. It’s a different level of transparency that helps investors gauge the influence of big players. Plus, it’s useful for spotting trends in corporate adoption and market movements.

Where to Check Bitcoin Holdings:

• BitInfoCharts top addresses
• Arkham Intelligence's BTC dashboard
• Bitcoin Treasuries by Bitbo
• Bitcoin Treasuries
• Bitcoin Exchange Balance by CoinGlass
• Apollo Bitcoin Tracker
• Cryptonary Bitcoin ETF Inflows Tracker

Transparency in corporate Bitcoin holdings adds another layer of trust and helps the broader community keep an eye on the market's most significant players.

How Large Bitcoin Holdings by Companies and Countries Influence the Market

When companies and governments get involved in Bitcoin, they don’t just shake up the market—they create waves. Let’s break down how.

Corporate Influence: MicroStrategy and ETFs

Companies like MicroStrategy have made headlines for their aggressive Bitcoin purchasing strategies. By holding over 252,000 BTC, they signal to the market that institutions are here for the long haul. Every time MicroStrategy makes a public announcement about a major buy, it tends to spike demand. 

Now, let's talk ETFs. Bitcoin ETFs have exploded, with net ETF flows skyrocketing by 115x—from just 2.7K BTC to 311.5K BTC, and at times, absorbed 5x more BTC daily than miners produce. Spot Bitcoin ETFs make it easier for institutional players to dive into the market, and with more mainstream access, demand keeps climbing. However, leveraged ETFs can introduce volatility, magnifying price swings and sparking a rollercoaster effect in market sentiment.

National Impact: Governments Holding Bitcoin

Governments are also making their mark. Take El Salvador, for instance. The country's decision to adopt Bitcoin as legal tender turned heads and pumped up adoption rates. But it’s not all positive. When governments decide to liquidate large Bitcoin holdings—like the U.S. government offloading seized BTC—it can rattle the market. For example, when the U.S. transferred $2 billion worth of seized Bitcoin, prices took a dip from $70,000 to around $66,100.

This brings us to the recent U.S. Supreme Court decision allowing the sale of 69,370 BTC worth $4.3 billion. While some market commentators warn that it might sink the market, others debate whether it’s just more FUD (fear, uncertainty, doubt). Either way, large government holdings play a key role in Bitcoin’s price stability and market perception.

By tracking these major players—corporate giants, ETFs, and governments—you can better anticipate how their moves will impact your Bitcoin investments.

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The Power Players Shaping Bitcoin’s Future

Who owns the most Bitcoin? It’s not just individuals anymore—institutional investors, private companies, ETFs, and even governments hold significant amounts of Bitcoin, each with the power to move markets. Large-scale purchases from entities like MicroStrategy or BlackRock-backed ETFs can spike demand and drive prices higher, while government sell-offs, like the U.S. liquidation of seized Bitcoin, can lead to volatility. In the long run, these major holdings signal growing institutional confidence in Bitcoin, accelerating its adoption as a global store of value and solidifying its role in the future of finance.