Bitcoin’s New Aristocracy: Wall Street’s Latest Toy 🎩💰
Data from the ever-reliable Bitbo reveals that a motley crew of ETFs, public and private companies, governments, and even the odd DeFi protocol, now control more than 3.642 million BTC, or 17.344% of the total supply. At current market rates, this amounts to a cool $428 billion worth of Bitcoin, safely ensconced in institutional treasuries where it can do little more than inflate the egos of its custodians.