I just saw a Bitcoin holder ranking, and it's pretty interesting. Satoshi Nakamoto's 1.1 million BTC has never moved, and he's still the biggest holder today. After all these years, no one knows who he really is. Below are some large institutions: a major exchange holds over 550k BTC, and a U.S. exchange also has nearly 300k BTC. Traditional financial firms and corporate institutions like BlackRock and MicroStrategy are now holding a significant amount of BTC as well. It seems institutional accumulation is definitely accelerating.

Interestingly, the U.S. government has accumulated over 210k BTC through law enforcement actions, and the Chinese government also holds about 190k BTC. Institutional investment firms like Fidelity and Grayscale are also major holders. These data reflect that Bitcoin's distribution has shifted from retail dominance to more institutional concentration, and the overall market power dynamics are changing.

But this makes me think of that guy James Howells. He once mined a bunch of BTC, but his hard drive was thrown away, and now it's worth an astronomical amount. Compared to these institutions holding hundreds of thousands of coins, individual investors need to seize every opportunity to participate in this market. Currently, BTC is around $78k. Compared to the strategic accumulation by institutions, retail investors can only dollar-cost average and hold long-term.