BlockBeats News, June 12, a Gemini research report shows that centralized entities (including governments, exchange-traded funds, and publicly listed companies) currently control 30.9% of Bitcoin's circulating supply, amounting to 6.1 million BTC, approximately $668 billion, marking a 924% increase over the past decade. Among this, centralized exchanges hold about half of this share.
The report notes that Bitcoin wallets held by governments "rarely move and show almost no correlation with Bitcoin price cycles," yet holding substantial assets could potentially impact the market. The research suggests that with nearly one-third of Bitcoin's circulating supply controlled by centralized entities, the market is undergoing a structural shift towards institutional maturity.
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