{"id":21766,"date":"2023-09-24T13:17:20","date_gmt":"2023-09-24T13:17:20","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/coinbase-identified-as-largest-bitcoin-holder-globally\/"},"modified":"2023-09-24T13:17:21","modified_gmt":"2023-09-24T13:17:21","slug":"coinbase-identified-as-largest-bitcoin-holder-globally","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=21766","title":{"rendered":"Coinbase identified as largest Bitcoin holder globally"},"content":{"rendered":"
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\u00a9 Reuters Coinbase identified as largest Bitcoin holder globally<\/span>
\n<\/i>\n<\/div>\n

Crypto.news – Coinbase (NASDAQ:) holds $25 billion worth of , amounting to nearly 5% of the cryptocurrency\u2019s total supply, according to Arkham Intel (NASDAQ:).<\/p>\n

Blockchain intelligence platform Arkham Intel, on Sept. 22, revealed that U.S.-based crypto exchange Coinbase currently possesses close to 1 million Bitcoins (BTC) in its wallets. <\/p>\n

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 holdings of Bitcoin\u2019s elusive founder, Satoshi Nakamoto.<\/p>\n

As asserted by Arkham, Coinbase\u2019s 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 recorded by the crypto price tracking platform CoinGecko. <\/p>\n

However, it\u2019s critical to bear in mind that most of the coins belong to crypto exchange users, especially since Arkham highlighted that Coinbase utilizes around 36 million Bitcoin deposits and holding addresses, all of which the on-chain analysis platform consistently tracks and identifies.<\/p>\n

The data company also shared that Coinbase\u2019s most substantial cold wallet contains 10,000 BTC, equating to about $265.8 million. Moreover, through an analysis of Coinbase\u2019s financial reports, Arkham anticipates that the exchange might have additional Bitcoins that are yet to be labeled and remain unidentified.<\/p>\n

Furthermore, Arkham uncovered that Coinbase\u2019s cryptocurrency portfolio extends beyond Bitcoin and includes many other digital currencies.<\/p>\n

The exchange reportedly houses close to 1.68 million Ether (ETH), which is valued at roughly $2.69 billion. Chainlink (LINK) is another cryptocurrency in Coinbase\u2019s possession, with 68.59 million LINK tokens, estimated to be worth about $471 million. <\/p>\n

The exchange also holds 222 million (USDC), a stablecoin pegged at a 1:1 ratio with the U.S. dollar, and a noteworthy 921,000 (BNB) valued at approximately $194 million.<\/p>\n

Meanwhile, the Bitcoin price has been holding steady 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>\n

This article was originally published on Crypto.news<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters Coinbase identified as largest Bitcoin holder globally Crypto.news – Coinbase (NASDAQ:) holds $25 billion worth of , amounting to nearly 5% of the cryptocurrency\u2019s total supply, according to Arkham Intel (NASDAQ:). Blockchain intelligence platform Arkham Intel, on Sept. 22, revealed that U.S.-based crypto exchange Coinbase currently possesses close to 1 million Bitcoins (BTC)<\/p>\n","protected":false},"author":1,"featured_media":21767,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[32],"class_list":{"0":"post-21766","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing","8":"tag-featured"},"yoast_head":"\nCoinbase identified as largest Bitcoin holder globally | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters Coinbase identified as largest Bitcoin holder globally Crypto.news - Coinbase (NASDAQ:) holds $25 billion worth of , amounting to nearly 5% of\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/microloannexus.com\/?p=21766\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coinbase identified as largest Bitcoin holder globally | Micro Loan Nexus\" \/>\n<meta property=\"og:description\" content=\"\u00a9 Reuters Coinbase identified as largest Bitcoin holder globally Crypto.news - 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