Although Bitcoin was designed as a decentralized asset, a significant portion of its supply is concentrated in the hands of a few major players. The largest single holder remains Satoshi Nakamoto, who is believed to control about 1.1 million Bitcoin. That represents roughly 5.5 percent of the total supply and is valued at around 75 billion dollars at current prices. These coins, mined in Bitcoin’s early days, have remained largely untouched.
Among active entities, Coinbase ranks near the top with 993,069 BTC held on chain, equal to about 5 percent of the circulating supply. These holdings include customer deposits and company reserves used for liquidity. Its competitor Binance reportedly custodies around 661,000 BTC, or 3.15 percent of the supply.
Institutional investors also control substantial amounts. Data from Arkham Intelligence indicates that BlackRock is the largest institutional holder, with 761,801 BTC valued at approximately 52 billion dollars. Other asset managers such as Fidelity Investments and Grayscale Investments also maintain large positions. Some of these holdings are kept in omnibus custodial accounts, which can obscure direct ownership. For example, Fidelity Custody appears to hold around 448,000 BTC, and part of Strategy corporate treasury of 715,000 BTC is reflected under Fidelity due to custody arrangements.
Beyond these firms, other public companies have built notable Bitcoin reserves. Mining company MARA Holdings and Japan based Metaplanet have accumulated meaningful stakes. Private corporations are also involved. Tether holds 96,369 BTC, while SpaceX reportedly owns 8,300 BTC as of August 2025.
Governments have also become significant holders, often through asset seizures. The United States leads with 328,000 BTC, much of it recovered from cases such as the Bitfinex hack, the Silk Road marketplace, and funds seized from hacker James Zhong. The government also obtained 127,000 BTC linked to the LuBian hacker address.
The United Kingdom holds 61,245 BTC, largely confiscated by the Metropolitan Police in 2018 from individuals connected to a large scale fraud case. Authorities in China seized 194,775 BTC from the PlusToken scheme in 2020, though it remains unclear whether those coins are still held or have been sold.
Ukraine has also seen substantial Bitcoin involvement. Since the conflict with Russia began, the country has received 22.8 million dollars in BTC donations. In addition, more than 700,000 Ukrainian public officials have declared Bitcoin ownership, collectively reporting holdings of about 46,351 BTC.
In early 2024, Germany seized 50,000 BTC from the piracy website Movie2k, but those coins were fully liquidated by mid year.
