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Who Owns the Most Bitcoin? The Largest BTC Holders Revealed
Here’s a breakdown of the biggest Bitcoin holders and their estimated BTC holdings.
1. Satoshi Nakamoto – Estimated 1 Million BTC
- Value: Over $86 billion at a BTC price of $86,000.
- Status: Dormant since the coins were mined in 2009 and 2010.
2. Grayscale Bitcoin Trust (GBTC) – Over 600,000 BTC
- Holdings: Approximately 627,000 BTC.
- Value: Over $54 billion at current prices.
Grayscale’s BTC trust enables institutional investors and high-net-worth individuals to invest in Bitcoin without needing to hold or manage BTC directly.
3. Public Companies Holding Bitcoin
Key Companies and Their Holdings:
- MicroStrategy: Holds around 152,000 BTC ($13 billion), acquired as part of its corporate strategy to protect against inflation and currency devaluation.
- Tesla: Holds around 10,500 BTC ($900 million), although Tesla’s exact holdings fluctuate based on their reported financial statements.
- Block, Inc. (formerly Square): Holds approximately 8,000 BTC ($688 million), viewing Bitcoin as an asset to complement its financial services.
4. Private Companies and Investment Funds
- Mt. Gox Trustee: The now-defunct exchange Mt. Gox holds over 140,000 BTC ($12 billion) under the management of a trustee appointed to handle creditor claims.
- CoinShares: An investment fund managing cryptocurrency assets for high-net-worth individuals, CoinShares holds a sizable amount of BTC on behalf of its clients.
These private holdings are often used as long-term investments, stored in secure wallets with minimal movement to avoid market impact.
5. Governments Holding Bitcoin
- United States Government: Holds approximately 200,000 BTC, mainly acquired through confiscations tied to criminal cases, such as the Silk Road marketplace. The government periodically auctions off these holdings.
- Bulgarian Government: Allegedly holds 213,000 BTC seized during a 2017 law enforcement operation, though the exact status is unclear.
Government holdings are often liquidated in auctions, with proceeds going toward public funds or other initiatives.
6. Bitcoin Exchange Wallets
- Binance: Holds an estimated 600,000 BTC in cold wallets.
- Coinbase: Has approximately 500,000 BTC in custody.
These holdings are not owned by the exchanges themselves but reflect the combined balances of millions of users. However, the concentration of BTC on exchanges can impact liquidity and market volatility if significant amounts are withdrawn or deposited.
7. Bitcoin Mining Pools and Large Individual Holders
- Mining Pools: While pools don’t necessarily “own” BTC, they manage significant portions of BTC rewards distributed among participants.
- Whale Wallets: Some individual whales hold substantial BTC amounts, though exact identities are often unknown due to Bitcoin’s pseudonymous nature.
How Large Bitcoin Holders Influence the Market
The concentration of Bitcoin among these major holders has both positive and negative implications:
- Market Stability: Large holders often contribute to price stability, as they typically hold BTC long-term, reducing the likelihood of sudden selling pressure.
- Volatility Risks: However, significant sales or moves by whales (particularly from Satoshi’s wallet or seized government assets) can create volatility, impacting the market.
- Institutional Legitimacy: Institutional holders like Grayscale and Tesla lend credibility to Bitcoin as a legitimate investment asset, attracting additional investor interest.
Understanding the distribution of Bitcoin holdings offers insights into potential market movements, particularly during periods of high whale activity.