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Top Holder of Bitcoin Revealed: This Company Holds Same BTC as Satoshi Nakamoto

Published September 25, 2023 10:45 AM
Teuta Franjkovic
Published September 25, 2023 10:45 AM

Key Takeaways

  • Arkham revealed to have found almost $25 billion worth of Bitcoin in Coinbase’s holdings.
  • The amount of Bitcoins held is around 948,000, closer to Satoshi Nakamoto’s 1 million.
  • According to Arkham analysts on X, Coinbase is the largest Bitcoin holder in the world.

According to blockchain intelligence company Arkham Intelligence , Coinbase is the top Bitcoin holder, meaning the largest organization in the world to possess Bitcoin (BTC), with a market cap of roughly $25 billion.

Arkham Claims Coinbase Has Almost 1M Bitcoins

On Friday, Arkham that it had detected approximately 1 million BTC for Coinbase reserves on-chain, making the US-based cryptocurrency giant “the largest Bitcoin entity in the world”. 

The exchange’s BTC holdings are almost equal to the amount credited to Satoshi Nakamoto, the mysterious person who created Bitcoin, as they represent around 5% of all Bitcoins now in circulation.

A cold wallet with 10,000 BTC is among the 36 million deposit and holding addresses for BTC that Coinbase apparently hosts. The intelligence platform indicated that there might be millions of additional untagged assets.

The Coinbase portfolio also has 1.68 million Ethereum (ETH), 68.6 million Chainlink (LINK), roughly 223 million USD Coin (USDC), and 921,000 BNB (BNB) in addition to Bitcoin.

According to information on Arkham as of September 22, these assets help to make up Coinbase’s approximately $29 billion cryptocurrency portfolio.

According to Arkham, Coinbase has a total holding of 947,755 BTC in its Bitcoin portfolio. To put things in perspective, the cryptocurrency price tracking website CoinGecko  estimates that there are currently 19,493,875 Bitcoins in circulation.

However, it’s essential to emphasize that cryptocurrency exchange users primarily own the majority of these coins. Arkham revealed that Coinbase alone actively monitors and identifies nearly 36 million Bitcoin deposit and holding addresses using their on-chain analysis platform.

Obtaining AML Registration Approval From the Bank of Spain

The release of Arkham’s research coincides with Coinbase’s additional service expansion following regulatory permission  in Spain.

As announced earlier, on September 22, Coinbase declared that it had secured Anti-Money Laundering (AML) registration with the Bank of Spain, marking a critical milestone in its global expansion strategy.

With the help of this registration, Coinbase is now able to provide the entire spectrum of its cryptocurrency services to institutional and retail customers in Spain while also adhering to the legal requirements of that nation.

Coinbase now has official regulatory milestones in Spain in addition to those in Italy, Singapore, the Netherlands, Brazil, and Canada. The exchange is likewise struggling with US regulatory ambiguity.

Who Owns Most Bitcoin

According to Arkham Intelligence , the greatest Bitcoin holder is still Satoshi Nakamoto, who is said to own 1.1 million coins, valued at $30 billion at the time of writing.

After Coinbase, two of the biggest exchange Bitcoin custodians are Binance and Bitfinex, with approximately 600,000 and 200,000 BTC, respectively.

The US government is allegedly the owner of 205,515 Bitcoin, said James Zhong , the owner of the Silk Road marketplace, and as a result of the Bitfinex hack.

Many Bitcoin billionaire wallets remain unidentified, with most of them staying idle after receiving their initial Bitcoin input

An integral part of the project’s design is the fixed supply of 21 million Bitcoins, preventing artificial value inflation. Notably, the actual available Bitcoin supply is even smaller due to an estimated 3.7 million BTC permanently lost in inaccessible wallets.

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