Coinbase Identified as the World’s Largest Holder of Bitcoin: Arkham

4:59 pm
September 23, 2023

A recent report by blockchain intelligence firm Arkham reveals that Coinbase, the popular cryptocurrency exchange, holds approximately $25 billion worth of Bitcoin (BTC), cementing its position as the largest entity holding the flagship digital asset in the world.

Arkham Discovers Coinbase’s Impressive Bitcoin Holdings

According to Arkham, the firm has identified almost 1 million BTC held by Coinbase. This makes it the largest Bitcoin entity in the world, in terms of the amount of BTC, surpassing even the legendary Bitcoin creator, Satoshi Nakamoto. These holdings account for around 5% of all Bitcoin in existence.

Arkham’s announcement on Twitter reads, “Arkham has now identified $25B of Coinbase Bitcoin reserves (~1M BTC) on-chain. This makes Coinbase the largest Bitcoin entity in the world on Arkham, with almost 5% of all BTC in existence – about as much as Satoshi Nakamoto”

Additionally, it has been reported that Coinbase is home to 36 million deposit and holding addresses for BTC. Among them is a cold wallet holding 10,000 BTC. The intelligence firm speculates that there could be millions of other untagged assets on the platform.

Furthermore, Coinbase’s crypto portfolio includes 1.68 million Ethereum (ETH), 68.6 million Chainlink (LINK), nearly 223 million USD Coin (USDC), and 921,000 BNB (BNB). In total, these assets contribute to a crypto portfolio worth over $29 billion, as of September 22, according to data on Arkham.

The discovery by Arkham comes as Coinbase secures regulatory approval in Spain, expanding its services to the country. Currently, Coinbase is registered with regulatory authorities in Italy, Singapore, the Netherlands, Brazil, Canada, and is working towards regulatory clarity in the US.

Frequently Asked Questions (FAQ)

1. What is Arkham?

Arkham is a blockchain intelligence firm that conducts research and analysis on cryptocurrency-related data to provide insights and information to the industry.

2. How much Bitcoin does Coinbase hold?

According to Arkham’s report, Coinbase holds nearly 1 million BTC, making it the largest holder of Bitcoin in the world.

3. Who is the largest known Bitcoin entity?

As per Arkham’s findings, Coinbase is currently the largest known Bitcoin entity, surpassing even Satoshi Nakamoto, the mysterious creator of Bitcoin.

4. What other cryptocurrencies does Coinbase hold?

Aside from Bitcoin, Coinbase’s crypto portfolio includes Ethereum, Chainlink, USD Coin, and BNB.

5. Where is Coinbase registered and approved?

Coinbase is currently registered and approved by regulatory authorities in Spain, Italy, Singapore, the Netherlands, Brazil, Canada, and is actively seeking regulatory clarity in the United States.

6. Is Coinbase a secure cryptocurrency exchange?

Coinbase is considered one of the most reputable and secure cryptocurrency exchanges in the industry. It implements industry-standard security measures, including cold storage for digital assets and two-factor authentication for user accounts.

Summary

Blockchain intelligence firm Arkham has reported that Coinbase holds Bitcoin worth approximately $25 billion, making it the largest holder of Bitcoin in the world. Arkham’s findings reveal that Coinbase has nearly 1 million BTC, accounting for about 5% of all Bitcoin in existence. In addition to Bitcoin, Coinbase also holds significant amounts of other cryptocurrencies, contributing to a total crypto portfolio worth over $29 billion. This news coincides with Coinbase’s expansion into Spain and its ongoing efforts to establish itself as a reputable and regulated exchange globally.


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