Coinbase Holds Nearly 1 Million BTC: As Much As Satoshi Nakamoto

Coinbase holds nearly 1 million Bitcoins, almost equal to the stash attributed to Bitcoin's mysterious creator, Satoshi Nakamoto.

This revelation raises numerous questions and adds an intriguing layer to the already complex landscape of cryptocurrency holdings.

Coinbase's Bitcoin Reserve: A Staggering 1 Million BTC

Blockchain analytics firm Arkham revealed on September 23, 2023, that major cryptocurrency exchange Coinbase holds a significant reserve of Bitcoin (BTC).

According to Arkham's report, Coinbase owns approximately 948,000 BTC, equivalent to about $25 billion as of September 23, 2023.

This figure accounts for around 5% of the total supply of Bitcoin and is roughly equal to the number of Bitcoins believed to be held by the currency's creator, Satoshi Nakamoto.

Unidentified Additional BTC Holdings

Arkham noted that Coinbase utilizes more than 36 million BTC wallet addresses, all of which have been identified and tagged.

Considering the exchange's recent financial statements, Arkham reports, "It's highly likely that Coinbase still holds several thousand more BTC that haven't been tagged yet."

The analytics firm is currently working diligently to identify any unidentified Coinbase addresses. Information on Coinbase's holdings is also available on Arkham's official website.

The firm has previously revealed wallet information for other major exchanges. Just this month, they announced the identification of Grayscale's on-chain assets and revealed that Robinhood holds a large amount of SHIB.