In 2025, a significant shift in Bitcoin ownership has emerged, with institutions, investment funds, and governments increasing their holdings, according to data from River. This trend marks a departure from previous years, as individual Bitcoin ownership has notably declined. The change suggests that large entities are viewing Bitcoin as a strategic asset rather than a speculative investment. The growing institutional and governmental interest in Bitcoin is reshaping the market structure, with these players gaining more influence over the cryptocurrency. This shift is attributed to factors such as market volatility affecting retail investors and the availability of regulated financial products that offer indirect exposure to Bitcoin. As a result, the supply of Bitcoin on exchanges may tighten, potentially impacting price dynamics. Government participation in Bitcoin ownership is also noteworthy, as some states are directly holding Bitcoin or investing through vehicles, indicating a broader acceptance of digital assets. This development could lead to increased stability and integration of Bitcoin into traditional financial systems, altering the balance of power in the crypto ecosystem.