Blockchain analytical firm Arkham Intelligence revealed that Coinbase holds nearly 1 million units of Bitcoin. This means the exchange holds around 5% of all BTC, almost as much as Satoshi Nakamoto, the network founder.

In a September 22 post on X (formerly Twitter), Arkham Intelligence labeled Coinbase as the “largest Bitcoin entity in the world.”

Coinbase Holds $25 Billion in Bitcoin

Coinbase reportedly holds 948,380 BTC, estimated at $25 billion. These Bitcoin holdings primarily represent reserves safeguarded on behalf of their customers.

Arkham Intelligence identified more than 36 million deposit and holding addresses associated with Coinbase. The most substantial among these holdings, stored in a cold wallet, contains approximately 10,000 BTC.

Meanwhile, the substantial BTC holdings are not surprising, considering CEO Brian Armstrong recently described it as the most influential crypto asset in the market. The firm also revealed its intention to integrate support for Bitcoin Lightning as further evidence of its commitment to the industry.

It is worth noting that Coinbase likely maintains additional wallets yet to be uncovered, indicating the possibility of even more undisclosed BTC holdings.

Considering that a significant portion of Coinbase’s customer base resides in the United States, these extensive Bitcoin reserves underscore the country’s notable cryptocurrency adoption. Moreover, some

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Author: Oluwapelumi Adejumo

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