📰 Yello Paradisers! Here’s the Scoop:
Recent data from blockchain intelligence platform Arkham reveals that Coinbase, the renowned crypto exchange, has a staggering amount of Bitcoin in its possession. The exchange holds nearly 1 million Bitcoin, valued at over $25 billion based on current BTC market prices.
📰 Breaking Down the Numbers
Arkham’s findings indicate that Coinbase’s Bitcoin holdings represent almost 5% of the total existing Bitcoin. Specifically, Coinbase has 947,755 BTC in its wallets. For context, the current circulating supply of Bitcoin is approximately 19,493,537, as reported by CoinGecko.
Arkham’s research also identified 36 million Bitcoin deposit and holding addresses associated with Coinbase. Interestingly, the largest cold wallet of the exchange contains about 10,000 BTC. Arkham speculates that Coinbase might have even more Bitcoin that hasn’t been labeled or identified yet.
📰 Coinbase’s Ownership vs. Holdings
While the numbers are impressive, it’s essential to differentiate between Coinbase’s holdings and ownership. The exchange holds over $25 billion in BTC, but it only owns Bitcoin worth around $200 million, which equates to about 10,000 BTC.
📰 Community Reactions
The crypto community had mixed reactions to this revelation. Some members are considering withdrawing their BTC from exchanges, fearing potential withdrawal restrictions in the future. Others are torn between the security concerns of cold wallets and exchanges, leaving them uncertain about the best way to store their assets.
📰 Who’s the Top BTC Owner?
In the corporate world, business intelligence giant MicroStrategy remains the top Bitcoin owner. As of August 1, co-founder Michael Saylor announced that the company possesses 152,800 BTC, valued at over $4 billion at that time.
📰 Wrapping Up
Coinbase’s substantial Bitcoin holdings highlight the exchange’s significant influence in the crypto space. As always, Paradisers, it’s crucial to stay informed and make well-informed decisions about your crypto assets. Stay tuned for more updates from the crypto world!
Paradisers! In the dynamic world of crypto, information is power. But what if you could have more than just information?
1️⃣🔍 Digest: Time is precious. Get the day’s pivotal events, distilled to perfection. No noise, just essence.
2️⃣🧠 Expert: Ever wondered about the ‘why’ behind the news? Our ParadiseTeam experts decode the intricacies for you, giving you an edge.
3️⃣🔐 Exclusive: Step into the realm of elite insights. Content that’s not just informative, but transformative.
Why be a spectator when you can lead the charge? With MCP🗞️NEWS PRIVATE channels, you’re not just informed; you’re ahead.
👉👉CLICK HERE (https://t.me/MCP_Newsbot) to find out more about what you will get, UNLOCK the PRIVATE sections, and embark on a crypto journey like no other!
Your News, Your Success🌴
🌐MyCryptoParadise
