Bitcoin’s popularity is hard for anyone to ignore. Although we can’t predict whether Bitcoin will replace the dollar as the world’s reserve currency, Bitcoin is unquestionably the biggest decentralized peer-to-peer (P2P) payment network. We are certain that Bitcoin will power a new financial system.
So, It would surprise you to know that the top wallets with the most Bitcoin belong to top financial institutions and organizations. While that’s not exactly a problem, it births a certain curiosity as to why these guys are into BTC and whether it is significant for the crypto market. Now let’s list the wallets with the most Bitcoin. This list will feature both individual and corporate owners.
1) Satoshi Nakamoto (1.1 million BTCs)
Despite the mystery surrounding Nakamoto’s identity, it is certain that they mined around one million bitcoins between 2009 and 2010, stored in about 22,000 wallet addresses. Many people think Nakamoto purposefully pulled these bitcoins from circulation, but it’s unclear who has access to this sizable BTC reserve.
All of it was never used, except for a few test transactions. Since quitting the project in 2010, Satoshi has avoided the spotlight and remained mysterious.
20th richest person in the world may now be anonymous. Satoshi Nakamoto, the creator of Bitcoin, could be worth $60 billion if estimates of their holdings are correct.
The world is changing. pic.twitter.com/5UmJgPONcu
— Documenting ₿itcoin 📄 (@DocumentingBTC) April 2, 2021
However, more than 100 BTCs were transferred from two abandoned Satoshi wallets a year ago. The Bitcoin wallet was dormant for over a decade, which has sparked debate in the Bitcoin community. In June 2010, both addresses received 50 BTC for mining blocks. There was basically no activity for a number of years.
2) Grayscale: (643,572 BTCs)
Grayscale is the biggest asset manager to continue selling shares of its crypto assets on the US stock market. The company owns about 643,572 BTC or nearly 3% of the total supply.
Breaking: Arkham has identified the Grayscale Bitcoin Trust’s holdings on chain.
It is the 2nd largest BTC entity globally, holding >$16B of BTC.
— Arkham (@ArkhamIntel) September 6, 2023
Grayscale is one of the many companies that have filed for a Bitcoin ETF. However, the SEC rejected this request in 2022 due to a purported lack of surveillance competence. Grayscale sued the SEC, claiming that the latter permitted the Bitcoin Futures ETF. Grayscale secured a mini-victory against the SEC in August after a court ordered the regulator to reconsider Grayscale’s application.
3) Binance: (498,147 BTCs)
It is only natural that Binance’s cold storage wallets contain significant quantities of BTC, given that the company is the biggest cryptocurrency exchange in the world. Binance currently has 498,197 BTC, the most in a single wallet.
Binance POR: Ethereum holdings declined while Bitcoin and USDT steadied
— Bradicoin (@Bradicoin10) September 11, 2023
The nature of Binance’s services is a reason why it owns lots of BTC. Platforms like Binance make it easier to buy, sell, and store cryptocurrencies like Bitcoin. Exchanges like Binance also affect the liquidity of Bitcoin.
4) Bitfinex: (192, 508 BTCs )
Bitfinex holds about 168,010 BTC and is one of the biggest players in the Bitcoin market. Interestingly, the exchange suffered a hack in 2016 that wiped off 119,756 BTC, which at the time was valued at $66 million. The US Department of Justice recently unveiled the faces behind the attack.
There’s no way those two people hacked Bitfinex. There’s more to the story.
— Brady Swenson (@CitizenBitcoin) February 10, 2022
5) U.S. Government: (175,000 BTCs)
The United States is the country with the most bitcoins. Of course, the US did not purchase these bitcoins from an exchange. Instead, this mass wealth of BTC was seized from the Silk Road, Bitfinex, and the seizure of James Zhong’s BTC. Over the years, many government agencies have confiscated Bitcoin. There’s little accountability over what the government does with its stash of bitcoin.
After seizing the Bitfinex hacked funds, the US government is now one of the largest hodlers of Bitcoin.
— Dan Held (@danheld) February 9, 2022
These are the top five holders: But there are others with respectable ownership of BTC:
- Microstrategy: 152,800.
- Block dot one: 140,000.
- OKX: 118,334.
- Robinhood: 118,300.
- Winklevoss: 70,000.
The identity and impact of Bitcoin’s largest holders will continue to be hot-button issues as BTC develops and becomes widely accepted. Anyone active in the Bitcoin market, either as an investor, trader, or spectator, needs to understand these factors.
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