The investigation by Arkham ultimately exposed the wallet address used by Coinbase.
According to a post on X (Twitter) on September 22, 2023, the on-chain data platform Arkham revealed that it had successfully identified the cluster of Bitcoin wallet addresses associated with Coinbase.
In total, this cluster of wallet addresses holds up to 1 million BTC, valued at 25 billion USD at the current time. This quantity is equivalent to 5% of the total Bitcoin supply.
According to Arkham’s findings, Satoshi Nakamoto, the anonymous creator of Bitcoin and the holder of the largest individual BTC stash to date, reportedly owns only 1.1 million BTC.
Nevertheless, Satoshi’s long-standing absence, and the fact that the Bitcoin network is now community-driven, have truly made this cryptocurrency a decentralized entity. We no longer need to be concerned about the number of BTC held by its creator.
According to Arkham and recent financial reports, Coinbase still holds thousands of BTC yet to be identified.
However, with 5% of the total supply, Coinbase currently stands as the largest Bitcoin holder in the world. Therefore, the community should pay close attention to significant developments within this exchange to make informed decisions in the face of potential price fluctuations.