- Arkham Intel identifies Coinbase as the largest known holder of Bitcoin (BTC).
- Coinbase holds approximately 1 million BTC, worth $25 billion.
- The analysis suggests that Coinbase holds 5% of the total BTC supply, aking to the holdings of Satoshi Nakamoto.
In an astounding turn of events in the ever-evolving crypto space, Arkham Intel, a prominent blockchain intelligence platform, has identified Coinbase as the largest known Bitcoin-holding crypto exchange. In its latest revelation, Arkham, using its proprietary algorithm, discovered approximately 1 million BTC, worth $25 billion, in the company’s portfolio.
On September 22, Arkham shared a post on X (formerly Twitter), drawing the attention of their 319.5k followers to the surprising certitude. According to Arkham’s findings, Coinbase holds almost 5% of the total Bitcoins in existence, probably akin to the holdings of the pseudonymous creator of Bitcoin, Satoshi Nakamoto.
The intelligence platform provided an extensive picture of the overall Bitcoin possession of Coinbase, claiming that the exchange currently boasts 36 million BTC deposits and holding addresses. It is noteworthy that Coinbase’s largest cold wallet solely contains almost 10,000 Bitcoins.
Chinese reporter Colin Wu, on his X account Wu Blockchain shared insights on Arkham’s findings about Coinbase’s awe-inspiring Bitcoin collection. Adding that a major portion of the 1 million Bitcoins might be client assets, Wu reflected on Arkham’s comment regarding the possibility of a massive amount of Bitcoins remaining unidentified. Arkham’s statement read, “Based on their most recent financials, Coinbase likely has thousands more BTC not yet labeled”.
The platform also elucidated the plethora of cryptocurrencies owned by Coinbase, including Ether (ETH), Chainlink (LINK), and USD Coin (USDC). While the exchange currently holds around 1.68 million ETH, Chainlink and USDC also secure a significant position in the list with approximately 68.59 million and 222 million respectively.
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