An on-chain update from Murphy, published via COINOTAG News on December 14, highlights how many BTC addresses with non-zero balances are controlled by institutional holders. The report identifies 153 corporate wallets that stay active, with 29 publicly traded companies holding about 1.082 million BTC, while other listed firms collectively own 54,331 BTC.

In the spot BTC and ETF landscape, spot BTC holdings total 1.311 million BTC. The top beneficiaries are BlackRock with 777,000 BTC, Fidelity at 202,000 BTC, and Grayscale with about 167,000 BTC.

Governments account for 615,000 BTC, led by the U.S. government with 325,000. Notably, roughly 3.409 million BTC have remained on-chain unspent for a decade. Analysts attribute this to dormant wallets and lost private keys, including over 1 million BTC tied to Satoshi Nakamoto. Collectively, long-term holders own about 14.35 million BTC, roughly 68% of the total supply.