Cryptocurrency exchange Coinbase Inc. (NASDAQ:COIN) currently holds $25 billion in Bitcoin (CRYPTO: BTC) reserves.
What Happened: This amount rivals the holdings of Bitcoin’s mysterious creator, Satoshi Nakamoto.
According to Arkham Intelligence, Coinbase holds approximately 36 million wallets. The largest identified cold wallet alone holds an astonishing 10,000 Bitcoin, with a value of around $265 million.
This figure is close to the estimated amount held by Bitcoin’s enigmatic creator.
"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," Arkham said.
Arkham has now identified $25B of Coinbase Bitcoin reserves (~1M BTC) on chain.