Hold onto your digital hats, because Bitcoin is getting gobbled up faster than you can say “blockchain”! MicroStrategy is leading the charge, hoarding over 440,000 BTC, which is a whopping 2% of Bitcoin's entire circulation, worth a jaw-dropping $46.15 billion. Talk about putting your money where your mouth is!
But wait, there's more. Institutional investors have been muscling their way into the Bitcoin scene, now holding 31% of all known BTC. That's up from just 14% in 2023! Why the sudden gold rush? Well, spot Bitcoin ETFs, government acquisitions, and yes, MicroStrategy’s aggressive buying spree have played a huge role.
CryptoQuant's top dog, Ki Young Ju, spilled the beans that while miners and crypto exchanges still hold a decent chunk of Bitcoin, the likes of MicroStrategy, ETFs, and even some governments are cutting themselves bigger slices of the pie.
Spot BTC ETFs launched this year are pulling in cash like a magnet, with giants like BlackRock’s iShares seeing a mind-blowing $1.4 billion in weekly inflows by mid-December. The whole sector holds over 1.3 million BTC, valued at an eye-popping $124.89 billion!
And let's not forget about MicroStrategy's record-breaking shopping spree in November, snapping up 134,480 BTC in just three epic transactions. Their Virginia-based antics have inspired copycats like Japan's Metaplanet, which recently scooped up more Bitcoin to bring its stash to nearly $170 million.
Other Bitcoin hoarders include Block.one, Tether, and even Elon Musk’s SpaceX, all sitting on piles of digital gold. And remember the infamous Mt. Gox? They still have a treasure chest of 44,899 BTC.
On the government front, the U.S. is top dog with 198,109 BTC, much of it seized from the notorious Silk Road. Despite having a crypto ban, China isn't far behind with around 190,000 BTC. Bhutan and El Salvador are also in on the action, with Bhutan mining its way to 11,688 BTC and El Salvador collecting nearly 6,000 coins thanks to President Nayib Bukele’s Bitcoin-friendly policies.
In total, about 2.45% of Bitcoin's circulating supply, worth a staggering $49.36 billion, is sitting in state coffers. It's clear that Bitcoin fever is spreading, and everyone wants a piece of the digital pie!
