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<p class="is-style-lead">Coinbase holds $25 billion worth of Bitcoin, amounting to nearly 5% of the cryptocurrency’s total supply, according to Arkham Intel.</p> 
<p>Blockchain intelligence platform Arkham Intel, on Sept. 22, revealed that U.S.-based crypto exchange Coinbase currently possesses close to 1 million Bitcoins (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) in its wallets.&nbsp;</p> 
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   <p lang="en" dir="ltr">Arkham has now identified $25B of Coinbase Bitcoin reserves (~1M BTC) on chain.<br><br>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. <a href="https://t.co/7sDOczS7WT" target="_blank">pic.twitter.com/7sDOczS7WT</a></p>— Arkham (@ArkhamIntel) <a href="https://twitter.com/ArkhamIntel/status/1705254948324233270?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">September 22, 2023</a>
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<p>The Bitcoin holding is valued at over $25 billion per the current market rates. It also constitutes almost 5% of all Bitcoin in circulation, an amount that would put Coinbase on par with the alleged <a href="https://www.arkhamintelligence.com/research/who-owns-the-most-bitcoin-2023-edition" target="_blank" rel="noreferrer noopener">holdings</a> of Bitcoin’s elusive founder, Satoshi Nakamoto.</p> 
<p>As asserted by Arkham, Coinbase’s Bitcoin portfolio consists of a grand total of 947,755 BTC. To put things in perspective, the current circulating supply of Bitcoin is approximately 19,493,875, as <a href="https://www.coingecko.com/en/coins/bitcoin" target="_blank" rel="noreferrer noopener">recorded</a> by the crypto price tracking platform CoinGecko.&nbsp;</p> 
<p>However, it’s critical to bear in mind that most of the coins belong to crypto exchange users, especially since Arkham highlighted that <a href="https://crypto.news/coinbase-study-55-of-voters-are-likely-to-shun-candidates-opposing-crypto/" target="_blank" rel="noreferrer noopener">Coinbase</a> utilizes around 36 million Bitcoin deposits and holding addresses, all of which the on-chain analysis platform consistently tracks and identifies.</p> 
<p> You might also like: <a href="https://crypto.news/coinbase-ftx-europe-crypto-derivatives-expansion/"> Coinbase shows interest in FTX Europe amid global crypto derivatives expansion </a> </p> 
<p>The data company also shared that Coinbase’s most substantial cold wallet contains 10,000 BTC, equating to about $265.8 million. Moreover, through an analysis of Coinbase’s financial reports, <a href="https://crypto.news/price/arkham/" target="_blank" rel="noreferrer noopener">Arkham</a> anticipates that the exchange might have additional Bitcoins that are yet to be labeled and remain unidentified.</p> 
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   <p lang="en" dir="ltr">Arkham has identified and tagged over 36 Million BTC deposit and holding addresses used by Coinbase, with their largest cold wallet containing ~10K BTC.<br><br>Based on their most recent financials, Coinbase likely has thousands more BTC not yet labeled. <a href="https://t.co/WVdlTBWs8K" target="_blank">pic.twitter.com/WVdlTBWs8K</a></p>— Arkham (@ArkhamIntel) <a href="https://twitter.com/ArkhamIntel/status/1705254950194893131?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">September 22, 2023</a>
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<p>Furthermore, Arkham <a href="https://platform.arkhamintelligence.com/explorer/entity/coinbase" target="_blank" rel="noreferrer noopener">uncovered</a> that Coinbase’s cryptocurrency portfolio extends beyond Bitcoin and includes many other digital currencies.</p> 
<p>The exchange reportedly houses close to 1.68 million Ether (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>), which is valued at roughly $2.69 billion. Chainlink (<a href="https://crypto.news/price/chainlink/" target="_blank" rel="noreferrer noopener">LINK</a>) is another cryptocurrency in Coinbase’s possession, with 68.59 million LINK tokens, estimated to be worth about $471 million.&nbsp;</p> 
<p>The exchange also holds 222 million USD Coin (<a href="https://crypto.news/price/usd-coin/" target="_blank" rel="noreferrer noopener">USDC</a>), a stablecoin pegged at a 1:1 ratio with the U.S. dollar, and a noteworthy 921,000 Binance Coin (<a href="https://crypto.news/price/bnb/" target="_blank" rel="noreferrer noopener">BNB</a>) valued at approximately $194 million.</p> 
<p>Meanwhile, the Bitcoin price has been holding <a href="https://crypto.news/crypto-prices-barely-stir-as-fed-leaves-interest-rates-unchanged/" target="_blank" data-type="link" data-id="https://crypto.news/crypto-prices-barely-stir-as-fed-leaves-interest-rates-unchanged/" rel="noreferrer noopener">steady</a> in the wake of the decision by the Federal Open Market Committee (FOMC) not to hike interest rates. The coin made a near negligible gain of 0.1% in the last 24 hours and was trading at $26,599, with a trading volume of $26.5 billion at the time of going to press.</p> 
<p> Read more: <a href="https://crypto.news/meet-the-whales-bitcoins-biggest-holders-and-their-market-influence/"> Meet the whales: Bitcoin’s biggest holders and their market influence </a> </p>

Coinbase identified as largest Bitcoin holder globally

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