Satoshi Still Owns More BTC Than Coinbase and BlackRock Combined

Arkham Intelligence has published its most comprehensive breakdown yet of Bitcoin ownership in 2026, using on-chain data and public disclosures to map the largest BTC holders across individuals, exchanges, ETF issuers, public companies, and governments. 

The report confirms that Bitcoin remains one of the most concentrated assets in the world, with a handful of entities controlling a substantial share of the 21 million BTC hard cap.

Bitcoin's pseudonymous creator, Satoshi Nakamoto, remains the single largest known holder, with Arkham attributing approximately 1.096 million BTC, worth around $82.2 billion, based on an early mining behavior known as the Patoshi Pattern. 

These holdings are fragmented across more than 21,900 distinct addresses that have recorded zero outbound activity since mid-2010. 

After Satoshi, the rankings shift to institutional giants. Coinbase stands out as the largest exchange entity, controlling around 976,000 BTC, roughly 4.8% of Bitcoin's total circulating supply. Binance follows with approximately 631,000 BTC. 

On the ETF side, BlackRock leads all issuers with more than 799,000 BTC held under its spot Bitcoin ETF, while Fidelity Custody holds 454,000 BTC. Grayscale, Bitwise, and ARK Invest also maintain significant on-chain positions. 

Government-linked wallets have also become a visible part of the Bitcoin landscape. The United States Government remains the largest known sovereign holder, with holdings exceeding 328,000 BTC, sourced from asset seizures tied to the Bitfinex hack, Silk Road cases, and the LuBian hacker address — representing about 1.64% of Bitcoin's total supply.

Among public companies, Strategy (formerly MicroStrategy) holds 781,000 BTC in total, making it the largest publicly traded corporate holder. 

MARA, a North American Bitcoin mining company, holds 13,000 BTC in its on-chain wallets. In addition, it has 25,000 BTC stored with Fidelity Custody, bringing its total Bitcoin holdings to 38,000 BTC.

Among private companies, Tether holds 97,000 BTC verified on-chain, and SpaceX holds 8,300 BTC, down from a peak of 28,000 BTC in 2021. 

Several unknown wallets still hold billionaire-level balances, with the largest unattributed addresses containing approximately 92,000, 78,000, 54,000, 52,000, and 44,000 BTC, respectively.

Arkham's overall dataset shows Bitcoin ownership is heavily skewed toward a relatively small number of entities. 

Satoshi's early-mined stash, large exchange wallets, ETF custodians, and government seizure addresses collectively represent a substantial portion of the outstanding supply. 

The continued accumulation by public and private treasury companies further underscores Bitcoin's evolution from a decentralized experiment to a strategic reserve asset.

The Arkham report offers the clearest on-chain snapshot to date of just how concentrated Bitcoin supply has become as institutions, ETFs, and governments deepen their positions.

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