Key Takeaways




Coinbase’s holding accounts for roughly 5% of the total Bitcoin in circulation



The exchange itself directly owns only around 10,000 BTC.




In a recent revelation, blockchain intelligence platform Arkham has disclosed some significant insights into the cryptocurrency exchange behemoth, Coinbase.



According to Arkham’s findings, Coinbase holds nearly 1 million BTC on-chain, a revelation that positions it as the “largest Bitcoin entity in the world” within Arkham’s analysis. This remarkable revelation accounts for roughly 5% of the total Bitcoin in circulation and puts Coinbase’s BTC holdings in proximity to those attributed to Bitcoin’s enigmatic creator, Satoshi Nakamoto.



To put it into perspective, Coinbase’s BTC reserves tally up to approximately 948,380 BTC, which equates to an astonishing $25 billion in value. It’s essential to emphasize that these holdings serve primarily as reserves safeguarding the assets of Coinbase’s extensive user base, underlining the trust that the exchange enjoys from cryptocurrency enthusiasts globally.



Arkham Intelligence’s exhaustive investigation uncovered more than 36 million deposit and holding addresses linked to Coinbase. Among these numerous addresses, one particular address stands out as the repository of the largest BTC holdings, securely stored in a cold wallet, which houses an impressive sum of around 10,000 BTC.



Additionally, Arkham’s research reveals that while they have tagged and identified 36 million Bitcoin deposit and holding addresses associated with Coinbase, a significant portion of Coinbase’s BTC holdings remains untagged and elusive. This suggests that Coinbase may indeed possess even more Bitcoin assets than those currently accounted for.



Surprisingly, despite Coinbase’s substantial holdings, which exceed $25 billion in BTC value, the exchange itself directly owns only around 10,000 BTC. This subset of Bitcoin holdings is currently valued at approximately $200 million.



Apart from Coinbase, Michael Saylor’s MicroStrategy has earned a reputation for itself owing to its massive Bitcoin holdings. As per media reports, MicroStrategy (MSTR) bought 12,333 bitcoin (BTC) for $347 million in cash between April 29 and June 27 this year. The company, which was founded by crypto billionaire Michael Saylor, is one of the largest HODLers of bitcoin.



MSTR has repeatedly stated that its conviction in its bitcoin strategy will remain strong as the digital asset environment continues to mature.