TechFlow, June 12 — According to a report by Cointelegraph, a Gemini research report shows that centralized institutions—including governments, exchange-traded funds, and public companies—currently control 30.9% of the circulating Bitcoin supply, amounting to 6.1 million BTC, worth approximately $668 billion, representing a 924% increase compared to a decade ago. Centralized exchanges account for nearly half of this holdings.
The report notes that government-held Bitcoin wallets "rarely move and show almost no correlation with Bitcoin price cycles," but holding such large amounts could potentially impact the market. The study suggests that as nearly one-third of the circulating Bitcoin supply is held by centralized institutions, the market is undergoing a structural shift toward institutional maturity.
