Major Financial Institutions on Wall Street Achieve Control over a Million Bitcoins, Asserting Dominance in the Cryptocurrency Market

In the world of cryptocurrency, Bitcoin continues to be a standout player, with its surging popularity on Wall Street leaving transaction fees at historic lows. This trend has seen publicly traded companies collectively amass over 1,000,000 BTC, a significant portion of Bitcoin's fixed 21 million supply.

Among these companies, several notable players have emerged. Jack Mallers' XXI holds 43,514 BTC, while The Bitcoin Standard Treasury Company and Metaplanet each hold 30,021 BTC and 20,000 BTC respectively. MARA Holdings boasts the largest stash with 52,477 BTC. Strategy, on the other hand, controls an impressive 636,505 BTC, making it the clear frontrunner among corporate treasuries. Bullish and The Trump Media & Technology Group also join the ranks with 24,000 BTC and Riot Platforms with an undisclosed amount.

However, this corporate accumulation trend raises concerns about Bitcoin's security. With reduced miner participation, there is a threat of decentralization, and network security could potentially be concentrated in the hands of dominant pools such as Foundry and Antpool, who already control nearly half of total hashpower.

The 2028 halving, expected to pose an even bigger challenge, will cut rewards to just 1.5625 BTC per block. In a post-halving environment, block rewards will account for less than 1% of miner revenue, putting additional pressure on miners who are already struggling due to falling transaction fees. This financial strain has forced many miners to liquidate their holdings or shut down operations.

The miners, primarily located in regions with significant mining operations, often including countries with lower electricity costs such as the United States, Kazakhstan, and historically, China, face an uncertain future. Without new uses that boost demand for blockspace, Bitcoin's security could weaken, potentially threatening the very foundation of this digital gold.