Recent information from the blockchain intelligence platform Arkham has revealed that Coinbase, one of the leading cryptocurrency exchanges in the world, holds nearly a million Bitcoins in its wallets. At the current market rates for BTC, this represents a staggering value of over 25 billion dollars. To put this into perspective, Coinbase’s reserves represent nearly 5% of the entire circulation of Bitcoin, with a total of 947,755 Bitcoin.
Analysis of Coinbase’s Bitcoin Reserves
Upon further investigation, while Coinbase’s wallets are filled with BTC worth over 25 billion dollars, the actual ownership of the exchange only amounts to 10,000 BTC, valued at around 200 million dollars based on current evaluations. The majority of bitcoins held by Coinbase belong to its users, as expected. Arkham has also highlighted that they have identified 36 million Bitcoin deposit and storage addresses associated with Coinbase. The exchange’s largest cold wallet itself contains around 10,000 BTC.
