Analysts estimate Coinbase’s Bitcoin reserves


Cryptocurrency exchange Coinbase holds almost 1 million BTC, which is about 5% of all bitcoins in circulation. This was reported by Arkham Intelligence analysts.

Experts recalled that the creator of the first cryptocurrency, Satoshi Nakamoto, has approximately the same number of coins.

“Given the exchange’s recent financial performance, Coinbase likely owns thousands more untagged Bitcoin,” Arkham Intelligence said.

In September, Coinbase CEO Brian Armstrong called Bitcoin the “most important” cryptocurrency, while confirming the exchange’s decision to integrate the Lightning Network micropayment network.

Previously, Arkham Intelligence analysts linked over 1,750 addresses to the Grayscale Investments Bitcoin trust. In total they contain 627,779 BTC (~$16.15 billion).

Let us remind you that specialists from the same company connected the online broker Robinhood with the third largest number of bitcoins address, storing 26,081 BTC (~$3.09 billion).

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