Recent data analysis from Arkham Intelligence has revealed that a mere six entities now hold a staggering 4.25 million Bitcoin (BTC), accounting for approximately 21% of the total supply that will ever exist. This concentration of wealth points to a significant challenge for potential buyers as the effective supply of Bitcoin continues to shrink.
The largest holder remains Satoshi Nakamoto, who has not moved 1,096,358 BTC since 2010, a stash valued at around $75 billion today. Arkham utilized a mining pattern known as the Patoshi Pattern to trace these dormant coins, linked to over 22,000 mined blocks. Following Nakamoto, Coinbase holds 993,069 BTC, approximately $68 billion worth, primarily for its own accounts and custody clients.
In addition, BlackRock controls 761,801 BTC, representing a significant portion tied to its spot Bitcoin ETF initiatives. The former MicroStrategy, now named Strategy, reports total holdings of 714,644 BTC, although only 415,230 BTC is visible on-chain due to its custodial arrangement with Fidelity.
The U.S. Government is known to hold 328,372 BTC, valued around $22 billion, acquired mainly through law enforcement actions such as the seizure of funds linked to the infamous Silk Road and the Bitfinex hack recovery. Tether rounds out the list of major holders with 96,369 BTC, part of its reserve management strategy, making it the top private company holder.
Most notably, the largest Bitcoin wallets belong to exchanges, with Binance holding two of the largest cold wallets, containing 249,000 and 157,000 BTC respectively. Other significant wallets include Robinhood with 141,000 BTC and Bitfinex with 130,000 BTC.
An estimated 3.7 million BTC is considered permanently lost, locked in wallets that are inaccessible to their owners. This loss further emphasizes the dwindling amount of Bitcoin available for trading. When factoring in Satoshi”s inactive coins, government holdings, ETF reserves, and corporate treasuries, the actual supply that can be traded continues to diminish.
Currently, Bitcoin is trading near $67,249, reflecting a 1% decrease over the last 24 hours.
