00:00Strategy Incorporated, formerly MicroStrategy, led by Michael Saylor, is the entity most
00:05commonly cited as holding over 3% of Bitcoin's total supply through direct corporate treasury
00:11purchases. As of 2026, Strategy's holdings are reported between roughly 738,731 BTC and 844,000
00:22BTC, depending on the source and reporting date, funded primarily through debt issuance and equity
00:28raises rather than operating cash flow, a strategy unique among public companies.
00:33Comparing this to other major categories clarifies why 3% specifically points to strategy.
00:391. Coinbase holds a larger share, around 5% of total supply, but this figure blends customer
00:47custody with the exchange's own holdings, so it's not a pure ownership stake.
00:512. Binance holds approximately 3.3% to 3.8%, similarly mixing custodial client funds with
00:59company assets.
01:003. BlackRock's IBT ETF holds around 780,000 BTC, but ownership sits with fund shareholders,
01:08not BlackRock itself.
01:094. Satoshi.
01:10Nakamoto's dormant wallets hold about 1.096 million BTC, roughly 5.2%, though this is unspent,
01:19not actively owned in a market sense. Context matters here. If you mean direct, unambiguous
01:26corporate ownership, not custodial or fund structure holdings, strategy is the clearest
01:31match to 3%. If you mean any entity crossing that threshold loosely, Binance custodial wallets
01:37also cluster near that number. These figures shift weekly as companies buy, sell, or as Bitcoin's
01:44circulating supply estimate changes and different tracking firms, Arkham Intelligence, River,
01:50report slightly different verified percentages due to incomplete on-chain attribution. Treat
01:56any single X percent claim as approximate and dated to its source's publish window rather
02:01than fixed fact.
02:02Practically, if researching ownership concentration, check Arkham Intelligence's live entity clustering
02:08dashboard for current numbers rather than relying on any static article.
02:13Finally, remember that everything we discussed today is for educational purposes only and does
02:18not constitute financial advice. Good luck to everyone, and see you in the next video.
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