Gemini: Centralized institutions hold 31% of the circulating supply of Bitcoin, approximately 668 billion dollars

ChainCatcher news, according to a report by Cointelegraph, Gemini's research report shows that centralized institutions (including governments, exchange-traded funds, and publicly listed companies) currently control 30.9% of the circulating supply of Bitcoin, amounting to 6.1 million coins, approximately $668 billion, an increase of 924% compared to ten years ago. Among this, centralized exchanges hold about half of that share.

The report points out that Bitcoin wallets held by governments "rarely move and have almost no correlation with Bitcoin price cycles," but holding a significant amount of assets may influence the market. The research suggests that as nearly one-third of the circulating supply of Bitcoin is held by centralized institutions, the market is undergoing a structural shift towards institutional maturity.