As of July 2025, exchanges dominate Bitcoin holdings, with Binance and Robinhood leading in BTC wallets. Binance holds about 248,600 BTC, while Robinhood's cold wallet contains around 140,600 BTC. Corporately, Strategy (formerly MicroStrategy) tops the list with nearly 597,325 BTC, representing 92.5% of its assets. As institutional confidence rises, Bitcoin ETFs are thriving, accumulating significant reserves. The US government holds the largest sovereign stash at 207,189 BTC, mostly from seized criminal funds. China follows with 194,000 BTC, showcasing how dormant wallets influence the market. Bitcoin ownership distribution is changing, with growing mid-tier wallets indicating broader adoption. Despite the concentration of wealth, smaller investors are beginning to accumulate more aggressively, reflecting Bitcoin's maturing market presence.

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