As crypto enthusiasts, we can all reflect on 2024 as a landmark year for Bitcoin and the broader crypto market. If you had bought the flagship cryptocurrency at the beginning of the year, then the value of that investment would have likely seen an increase of more than 150%.
Following former President Donald Trump’s landslide victory in the U.S. presidential elections on November 5, the price of BTC breached its all-time high of $74,000 (March 2024) to register a new peak of $106,000 on December 16. This surge was driven by the President-elect’s promise to support the crypto sector by enacting an accommodative regulatory environment and most importantly, establishing a national Bitcoin stockpile to back the U.S. dollar, reduce inflation, and aim to pay off the government’s $36 trillion debt.
But answering the fundamental question, “Who holds the most Bitcoin?”, is not easy. The ownership of Bitcoin is as diverse as it is significant. The largest bitcoin holders include its pseudonymous founder Satoshi Nakamoto, publicly listed companies like MicroStrategy and Tesla, investment giants such as BlackRock and Fidelity, large-scale individual holders known as “whales”, and even some governments through assets seized from cybercriminals, and strategic purchases like El Salvador.
Who Owns Bitcoin?
The Bitcoin network is said to have been created by an individual or a group of individuals, known as Satoshi Nakamoto. This pseudonymous creator does not have any control over the decentralized network, nor does anybody else.
Bitcoin’s software is run by a decentralized network of operators, and no single party or centralized entity is in charge of the rules set by the protocol. In order for the transactions to proceed, these standards must be agreed upon by the network participants.
There is no definite answer to the question “Who owns Bitcoin?” because Bitcoin has no owner. However, here we have listed some stakeholders who hold the most amount of the apex cryptocurrency.
Bitcoin Market & Holdings: A Quick Overview
Before we get into that, let’s have a picture of how the Bitcoin market is looking right now.
At the time of writing, BTC is trading at $103,714 – down 2.57% in the last 24 hours, with a market capitalization of $2.05 trillion, and a trading volume of $73.12 billion over the past day. Out of the 21 million Bitcoins that will ever exist, 19.79 million BTC have been mined and are in circulation.
The total global Bitcoin holdings stand at 1.305 million BTC, making up about 6.21% of its total supply, and is valued at $135.35 billion. Spot Bitcoin exchange-traded funds (ETFs) hold the largest share, followed by public companies with 529,558 BTC ($54.97 billion), countries with 575,911 ($59.93 billion), private companies holding over 366,738 BTC ($38.15 billion), decentralized finance firms owning at least 155,936 BTC ($16.22 billion), and Bitcoin mining companies holding about 84,008 BTC ($8.73 billion) in total.
Largest Bitcoin Holders In 2024
1. Satoshi Nakamoto
The “father of Bitcoin” remains the single-largest holder of the apex crypto asset, with an estimated 1,100,000 BTC stored in their wallet, worth around $114.39 billion. Satoshi not only invented the token but was also the first miner to create blocks of transactions on a decentralized network.
Satoshi was rewarded with 968,452 BTC for the work and the Bitcoins are reportedly spread across approximately 20,000 addresses and remain untouched to this day. With a current value of $100 billion, this stash makes up a significant portion of Bitcoin’s total supply, yet it has never been spent. Satoshi left the Bitcoin project in 2010, only a year after its inception, and hasn’t been heard from since.
2. BlackRock
$9 trillion asset manager BlackRock holds a substantial amount of Bitcoin’s supply through its iShares Bitcoin Trust (IBIT) ETF. As per the latest report, the Wall Street giant’s investment fund holds approximately 530,831 BTC, valued at $55.17 billion. This stockpile positions BlackRock as one of the largest institutional holders of the cryptocurrency.
The company’s Bitcoin accumulation has grown significantly over recent months. This can be attributed to the increasing popularity of spot Bitcoin ETFs among institutional investors, which allows them to get exposure to BTC without having to directly hold the asset. BlackRock’s holdings also reflect its strategic investment in the crypto market as part of its broader asset management operations.
3. Binance
Binance, the world’s largest cryptocurrency exchange by trading volume, is also the third-largest Bitcoin holder. As of December 2024, the trading platform holds approximately 294,874 BTC, representing a major portion of its total assets, valued at around $179.37 billion.
While the company’s holdings include a variety of other altcoins, Bitcoin constitutes for a wider margin. Reports indicate that more than 75% of Binance’s assets are held in BTC, dollar-backed stablecoins, and its native BNB token. However, the substantial Bitcoin reserve underscores the exchange’s position as a key player in the market.
4. MicroStrategy
Business intelligence firm MicroStrategy wrote itself into the history books by becoming the first corporate entity in the world to adopt Bitcoin as a treasury asset in 2020. According to reports, the company currently holds approximately 439,000 BTC, valued at over $45 billion. This figure also reflects its latest acquisition of 15,350 BTC, bought for about $1.5 billion between December 9 and December 15, 2024.
MicroStrategy’s total investment in the flagship crypto asset over the past four years is around $27.1 billion, with an average purchase price of $61,725 per BTC. The software developer’s strategy of consistently accumulating Bitcoin as a primary treasury reserve asset has turned it into the largest corporate holder of the token. Its holdings represent over 2% of the total Bitcoin supply.
5. Grayscale
Digital asset management firm Grayscale is another major institutional Bitcoin investor, accumulated through its financial investment products. As of December 2024, the company holds 210,073 BTC in its Grayscale Bitcoin Trust (GBTC) ETF. This stockpile, valued at approximately $22.58 billion, represents about 1% of the total Bitcoin supply capped at 21 million coins.
Grayscale’s Bitcoin holdings were significantly higher at the beginning of the year, during which it held nearly 620,000 BTC, worth over $64 billion. However, a series of outflows from GBTC following its conversation to a spot market ETF led to a decline in holdings as similar offerings from BlackRock and Fidelity became more attractive to investors due to their cheaper management fees.
Final Thought
In 2024, the largest Bitcoin holders are a diverse group, ranging from Satoshi Nakamoto and institutional giants like BlackRock and MicroStrategy to major exchanges like Binance. Their significant holdings highlight Bitcoin’s growing integration into traditional finance and its increasing appeal as a store of value. As the market continues to evolve, these largest Bitcoin holders will play a crucial role in shaping the future of cryptocurrency.
