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Grayscale’s staggering Bitcoin holdings and possible impact on BTC

2min Read

Grayscale’s Bitcoin treasure trove, now the second-largest globally, raises questions about BTC’s decentralization. Can this behemoth influence Bitcoin’s fate? 

Grayscale's staggering Bitcoin holdings and possible impact on BTC

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  • Grayscale reportedly owns over 627,000 BTC.
  • The current BTC in circulation was over 19 million.

Recent research by Arkham Intelligence has uncovered that Grayscale possesses a substantial volume of Bitcoin [BTC]. What is the amount held by the trust, and does this volume raise concerns about the decentralization of BTC?

Read Bitcoin (BTC) Price Prediction 2023-24

Second-largest Bitcoin holder identified

A recent report from Arkham Intelligence revealed that Grayscale Investments currently held the second-largest number of Bitcoins on a global scale. According to Arkham, Grayscale’s Bitcoin holdings surpassed 627,000 BTC, with a total valuation exceeding $16 billion. Also, these Bitcoins are distributed across over 1,750 addresses, with no single address holding more than 1,000 BTC.

Grayscale Investments is a digital currency asset management company known for offering the Grayscale Bitcoin Trust. It is a digital currency investment product accessible to individual investors who can trade it through their brokerage accounts. 

Also, an important milestone for the trust occurred on 21 January, 2020, when it became an SEC reporting company. This happened after having registered its shares with the Commission. Also, the designation marked it as the first digital currency investment vehicle to achieve reporting company status under the SEC.

Could Bitcoin be open to price manipulation?

A potential concern arising from this recent revelation is whether Grayscale’s substantial Bitcoin holdings could provide them with the capacity to influence the price of BTC. As per CoinMarketCap data, the current circulating supply of BTC was at over 19.4 million as of this writing.

Also, it had a maximum supply cap of 21 million. Additionally, the fully diluted market capitalization exceeded $540 billion, while the current market capitalization was over $500 billion.

Furthermore, Grayscale’s holdings may appear small to the overall market capitalization and circulating supply of Bitcoin, but there is still a possibility that their actions could impact the market.

However, it’s important to note that the market seems resilient and capable of recovering from any potential moves originating from their holdings.

How much are 1,10,100 BTCs worth today

The current number of BTC holders

While the specific number of Bitcoin held by various entities may vary, data from Santiment’s chart indicated a continuous increase in the number of Bitcoin holders. According to the chart, the number of BTC holders had risen to over 49.5 million, showing growth from the 49 million recorded at the end of August.

Additionally, as of this writing, BTC was trading at approximately $25,700, with a minor decrease in value from previous levels.

Bitcoin price and number of holders

Source: Santiment



Adewale is a full-time journalist at AMBCrypto. While he is increasingly fascinating by the world of blockchain and cryptocurrencies, Adewale holds a degree in International Relations. Besides working on insightful articles that touch upon the crypto-space's hottest issues, he finds joy in supporting Manchester United and Afrobeat music.
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