Key facts:
- Coinbase’s bitcoin holdings are equivalent to $25 billion.
- His possession is almost as large as Satoshi Nakamoto’s.
The data firm Arkham detected that Coinbase, the company that owns the second cryptocurrency exchange with the highest global trading volume, owns almost one million bitcoins (BTC). This makes it the entity with the most holdings in the currency, in the entire world after Satoshi Nakamoto.
According to research, Coinbase has 948,383 bitcoins, equivalent at the time of writing to around 25 billion dollars (USD). This figure is almost 5% of all existing BTC, noted Arkham. These are the bitcoin reserves detected by the investigation. Source: Arkham.
The firm highlighted that Coinbase’s possession is close to the 1.1 million BTC stored by Satoshi Nakamoto, the pseudonym by which the creator of Bitcoin is known.
In this way, Coinbase removed the Binance exchange and the Grayscale investment fund from the podium, which until now were known as the entities with the most bitcoin after Satoshi, as reported by CriptoNoticias.
Arkham detailed that Coinbase stores such holdings in more than 36 million addresses and in the largest cold wallet it has 10,000 bitcoins.
Market analyst Juan Rodríguez clarified in response to the news that all these bitcoins that Coinbase owns are not specifically from the company. He highlighted that around 463,000 are users of his exchange, while around 520,000 are from institutions on his custodian platform. The Coinbase exchange has almost 500,000 bitcoins on its balance sheet.
Rodríguez highlighted that 9,480 BTC are specifically owned by Coinbase, according to its public reports, making it the fourth publicly traded company with the most bitcoin in its holdings. This means that 99% of its holdings detected by Arkham would belong to its users.
