Bitcoin’s Centralized Treasuries: The New Kings of Crypto? 🤴💰

by

In a world where Bitcoin dances like a dervish, it appears that nearly a third of its supply is now under the watchful eyes of centralized treasuries. Yes, you heard it right! Early adopters, those crafty pioneers, are clutching a disproportionate share, as revealed by the latest research from the illustrious minds at Gemini and Glassnode. 🧐

These centralized treasuries—think governments, exchange-traded funds, and public companies—now command a staggering 30.9% of the circulating Bitcoin (BTC) supply. This shift, they say, signals a grand march toward institutional-grade infrastructure. Who knew Bitcoin could wear a suit and tie? 🤵

Hold onto your hats! The total Bitcoin hoarded by major institutional and custodial entities has skyrocketed to 6.1 million BTC, valued at around $668 billion. That’s a jaw-dropping 924% increase in the supply held by these entities over the past decade. Talk about a crypto buffet! 🍽️

As these treasuries, governments, and institutional funds gobble up BTC, it’s clear they see it as a strategic store of value. Who wouldn’t want a slice of that digital pie? 🥧

“During the same period, the spot price of Bitcoin has climbed from under $1,000 to over $100,000, reinforcing the thesis that institutions increasingly view Bitcoin as a strategic asset.”

Centralized exchanges hold lion’s share

But wait! The chart reveals that centralized exchanges are hoarding around half of that figure. These assets might just be sitting pretty for individual customers and retail investors. 🤑

The report also notes that among all institutional categories, the top three entities control a whopping 65% to 90% of total holdings. It seems early adopters are still pulling the strings in this institutional puppet show! 🎭

This concentration is most evident in DeFi, public companies, ETFs, and funds. Meanwhile, private company holdings appear more distributed, reflecting a broader base of engagement. Who knew crypto could be so social? 🤝

Earlier this month, CryptoMoon reported that 61 publicly listed companies hold over 3% of the total Bitcoin supply. That’s a lot of corporate crypto-craziness! 🚀

Sovereign treasuries can influence markets

The research also found that sovereign treasury wallets “show infrequent movement and little correlation with Bitcoin’s price cycles.” But don’t be fooled; they hold enough of the asset to shake the markets when they decide to move or sell. Talk about a sleeping giant! 🦖

It cited the government treasuries of the United States, China, Germany, and the United Kingdom, where most BTC is acquired through legal enforcement actions rather than market participation. Who needs a market when you have the law on your side? ⚖️

“These holdings represent a structurally distinct class—dormant, but capable of moving markets when activated.”

Transformation to institutional maturity

The report concludes that with almost a third of Bitcoin’s circulating supply now held in centralized treasuries, “the market has undergone a structural transformation toward institutional maturity.”

“Although Bitcoin remains a risk-on asset, its integration into traditional finance has made price action more reliable and less driven by speculative extremes,” they said. So, buckle up, folks! The crypto rollercoaster just got a little more stable. 🎢

Read More

2025-06-12 07:08