- New data shows Coinbase has more than 1 million Bitcoins.
- The total worth of Bitcoin is more than $25 billion.
Many crypto firms hide away the amount of crypto assets they own away from the public. So, this is what Coinbase was doing before the discovery of a very large Bitcoin stash.
Coinbase is the Largest Bitcoin Holder
- There’s a new development regarding the number of people that hold the largest Bitcoin. So, the provider of this new development is a crypto monitoring firm, Arkham Intel. They provided information showing that Coinbase hid very important data for many years. So, they are the current largest Bitcoin holder. Arkham Intel’s comprehensive analysis shows the crypto exchange has more than 36 million Bitcoin deposits and holding addresses. In fact, one of their cold wallets has more than 10,000 Bitcoin alone.
- According to the announcement from this crypto monitoring platform, Coinbase has nearly 1 million BTC on-chain for Coinbase reserves. So, this makes the crypto exchange the largest Bitcoin entity in the world, according to the records of Arkham.
Coinbase Bitcoin Holdings Closer to Satoshi Nakamoto
- According to this new data from Arkham, Coinbase’s Bitcoin holdings are very close to or nearly the same as that of the pseudonymous founder of Bitcoin. So, there are even suspicions the amount of other hidden Bitcoin stash from this crypto exchange might be bigger than the Bitcoin founder.
- The amount of Bitcoin holdings from this crypto exchange should account for about 5% of all Bitcoin in existence. So, this is almost close to what the Bitcoin founder had. This crypto exchange has approximately around 1 million Bitcoins. So, this is worth more than $25 billion. Arkham is very confident in its claim that Coinbase might have other crypto assets elsewhere. So, according to them, there is a massive chance that Coinbase has other Bitcoin assets that they are hiding from the public.
Other Assets From This Crypto Exchange
- Besides their massive stack of Bitcoin, this crypto exchange has many other holdings of assets. So, they have massive stacks of Ethereum, BNB, Chainlink, and USDC. According to data, they have around 1.68 million Ethereum (ETH), 68.6 million Chainlink (LINK), nearly 223 million USD Coin (USDC), and 921,000 BNB (BNB). So, the amount of these other assets is more than $29 billion, according to Arkham.
- Coinbase having this amount of crypto assets is quite staggering. It shows how many crypto exchanges and firms hide away from the public in terms of assets. So, assuming Arkham didn’t find this, the public wouldn’t know this crypto exchange is the largest Bitcoin holder.
Conclusion
Arkham Intel is a crypto firm specializing in monitoring and providing data around crypto holdings. So, they recently made a discovery that Coinbase owns the largest number of Bitcoins in the world. This crypto exchange has more than 1 million Bitcoins in its name, and it is worth more than $25 billion.
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The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from CryptoNewsBytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company.
