According to data compiled by Bitwise, a cryptocurrency index fund management company, nearly 70% of Bitcoin (BTC) is still held by individuals, significantly higher than the total holdings of governments, businesses, and funds.
Bitwise outlined the distribution of Bitcoin supply in an article released on Tuesday. The total supply of Bitcoin is 21 million, of which 69.4% are owned by multiple individuals; About 7.5% is considered lost; 6.1% is controlled by various funds and ETPs.
The wallets associated with Bitcoin creator Satoshi Nakamoto hold 4.6% of the total supply. In addition, the government and enterprises together account for 5.8% of the total supply. The remaining 5.7% and 0.9% are classified by Bitwise as' to be mined 'and' other ', respectively.
Bitwise It is emphasized that if businesses and governments want to acquire Bitcoin, they basically need to purchase from individuals willing to sell, and the market dynamics between buyers and sellers could become very interesting.
Bitwise CEO Hunter Horsley added:
Every new buyer must find a seller, which is obvious but still crucial. As we have seen, businesses and ETPs have been buying Bitcoin for days, but the price is still falling - and the price will be largely controlled by individuals who hold Bitcoin
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