Bitcoin (BTC) Holding Ranking
Author: EarnBIT
Compilation | Plain Blockchain (ID: hellobtc)
With nearly 500 million wallet addresses, Bitcoin has become a game-changer that is destined to have a long-lasting impact on the world.
As the king of the cryptocurrency field, Bitcoin has gone through a long and challenging journey since it quietly began trading in 2009, with hundreds of thousands of transactions taking place every day. But do you know who the major Bitcoin holders are?
01
Who are the top holders of Bitcoin?
The largest Bitcoin holders are corporate entities, including some institutions and crypto CEXs. CEXs store a large amount of users' crypto assets in cold wallets. Due to the nature of crypto transactions, these addresses are constantly changing.
It is estimated that there are 106 million Bitcoin holders globally, and although there are 460 million addresses used for transactions, 288 million of them do not hold any Bitcoin.
02
How to identify Bitcoin holders?
Due to the flow of funds between wallets, the list of major Bitcoin holders is constantly changing. As of May 15, 2024, according to blockchain browser data, the amount of Bitcoin held by the top ten addresses ranges from 69,370 BTC to 248,597 BTC.
The Bitcoin whitepaper suggests creating a new address for each transaction. However, due to the nature of crypto transactions, they are to some extent semi-anonymous: if a person publicly shares their wallet address, all their transactions can be easily traced.
Blockchain analysis also reveals the connection between wallets and real identities. Investigators, regulatory agencies, and compliance teams use on-chain tools to detect and prevent criminal activities.
Bitcoin.org has stated: "The design purpose of Bitcoin is to allow users to settle payments in a way that is acceptable in terms of privacy, just like any other form of money. However, Bitcoin is not anonymous, so it cannot provide the same level of privacy as cash."
03
Satoshi Nakamoto's Bitcoin wallet
The anonymous creator of Bitcoin, Satoshi Nakamoto, remains a mystery to this day, but he holds 1 million Bitcoins. Since Nakamoto mined the genesis block on January 3, 2009, one of his addresses is easily found: 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa.
This wallet currently holds approximately 99.84 Bitcoins with no record of outgoing transactions. However, Nakamoto may still own hundreds or even thousands of other independent addresses. These dormant funds add to his mystique.
04
Top Bitcoin holders and their wallet addresses in 2024
The following are the ten largest individual wallets and their owners determined based on public data and blockchain intelligence.
1) BN (Cold Wallet 1) - 248,597.48 BTC
Unsurprisingly, the world's largest crypto CEX manages the largest wallet, holding over 1.2% of all circulating Bitcoins. There have been very few fund outflows—the most recent one occurred in January 2023, involving 2,000 BTC.
Bitcoin address: 34xp4vRoCGJym3xR7yCVPFHoCNxv4Twseo
BN's cold wallet statistics as of May 16, 2024. Source: BitInfoCharts
2) Bitfinex - 180,010.07 BTC
Bitfinex is a well-established CEX founded in 2012. Although it has suffered several major security breaches and its historical record is not perfect, as of May 15, 2024, it ranks 10th in terms of trading volume. The most recent fund outflow transaction occurred in April 2024, amounting to 4,000 BTC.
Bitcoin address: b1qgdjqv0av3q56jvd82tkdjpy7gdp9ut8tlqmgrpmv24sq90ecnvqqjwww97
3) Robinhood - 136,295.81 BTC
Robinhood is a zero-commission trading platform based in the United States, offering trading in stocks, ETFs, cryptocurrencies, and options. It attracts newcomers with user-friendly tools and deposit incentives, but has also been criticized for promoting high-risk activities.
According to BitInfoCharts' data, since its establishment in May 2023, the balance of this wallet has not seen any significant fund outflows. As of now, Robinhood has not confirmed ownership of this wallet, but Arkham Intelligence (a blockchain analysis platform) has linked it to the wallet.
Bitcoin address: bc1ql49ydapnjafl5t2cp9zqpjwe6pdgmxy98859v2
4) FBI (Bitfinex Funds) - 94,643.30 BTC
The funds in this wallet were stolen by a hacker couple from Bitfinex in 2016. US authorities have recovered a portion of the funds (120,000 BTC).
An investigation conducted jointly by the FBI, IRS-CI, and HSI identified the suspects based on gift card purchase records. This wallet is controlled by US federal authorities and was created in February 2022. After the initial deposit, only a small amount of funds have flowed into transactions.
Stolen Bitfinex funds were consolidated into a single wallet after 23 transfers. Source: Bitcoin.com
Bitcoin address: bc1qazcm763858nkj2dj986etajv6wquslv8uxwczt
5) BN (Cold Wallet 2) - 82,833.46 BTC
Relatively speaking, the second largest wallet of BN experiences frequent fund outflows. The most recent fund outflow occurred in April 2024, with over 7,910 BTC flowing out.
Bitcoin address: 3M219KR5vEneNb47ewrPfWyb5jQ2DjxRP6
6) Anonymous Mt. Gox Hacker - 79,957.26 BTC
In 2011, approximately 80,000 BTC was stolen from the Japanese Mt. Gox. Three years later, this CEX ceased operations after the exposure of theft, fraud, and poor fund management, having previously handled over 70% of Bitcoin trading.
The wallet's history shows unauthorized fund transfers from the former Bitfinex CEO. Since 2011, there have been no fund outflows, only a few small deposits.
Bitcoin address: 1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF
Transaction distribution traced back to the hacker's address. Source: Bitcoin.com
7) Anonymous Holder - 78,317.03 BTC
This address was activated on March 23, 2024, and there have been no fund outflow transactions. Activity has been very limited since the initial deposit, and the owner remains unknown.
Bitcoin address: bc1q8yj0herd4r4yxszw3nkfvt53433thk0f5qst4g
8) Tether (Cold Wallet) - 75,354.08 BTC
Arkham Intelligence has confirmed that this leading stablecoin issuer received thousands of Bitcoins from Bitfinex's hot wallet. The Tether wallet began operating in September 2022 and has only sent 0.0576 BTC in 50 transactions.
Bitcoin address: bc1qjasf9z3h7w3jspkhtgatgpyvvzgpa2wwd2lr0eh5tx44reyn2k7sfc27a4
9) BN (Cold Wallet 3) - 75,177.38 BTC
The third largest address associated with BN has been dormant since March 2024, having received nearly $5 billion worth of Bitcoin before that.
Bitcoin address: 3E97AjYaCq9QYnfFMtBCYiCEsN956Rvpj2
Transaction history of BN's wallet as of May 16, 2024. Source: BitInfoCharts
10) FBI (Silk Road Funds) - 69,370.17 BTC
Silk Road was the first modern darknet market to be shut down in 2013, used for drug trading, money laundering, and other illegal activities using Bitcoin. It operated as an underground service on a network, allowing users to operate anonymously.
The Bitcoins in this wallet did not directly come from Silk Road. A hacker infiltrated the market and stole the Bitcoins between 2012 and 2013. In 2020, they returned these Bitcoins to US authorities.
Bitcoin address: bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6
Top Five Institutional Bitcoin Holders
1) MicroStrategy Incorporated - 214,400 BTC
This business intelligence provider, led by cryptocurrency advocate Michael Saylor, ranks first among enterprises holding BTC. According to its financial report for the first quarter of 2024, its Bitcoin holdings reached 214,400 after the latest acquisition in April.
At the current price, these held Bitcoins are worth approximately $13.5 billion, and it is reported that the company has realized paper profits of around $6 billion from Bitcoin. As a former internet entrepreneur, Saylor once lost $6 billion in a day, but later made billions from the rise of Bitcoin, causing the company's stock price to soar.
Ranking of enterprise and national Bitcoin holdings as of May 6, 2024. Source: Independent
By holding more than 1% of all existing Bitcoins, MicroStrategy holds more cryptocurrency than any single country. Its holdings exceed those of Marathon Digital Holdings by over tenfold.
MicroStrategy's stock is widely seen as a proxy for traditional investors' exposure to Bitcoin. Its year-to-date increase of 138.03% supported its inclusion in the MSCI Global Index, effective May 31.
2) Marathon Digital Holdings, Inc.
As the second-largest publicly traded corporate holder, this U.S. mining company owns over 17,631 Bitcoins, valued at over $1.5 billion, including the holdings after selling approximately 600 Bitcoins earlier.
Unlike MicroStrategy, Marathon Digital failed to meet its first-quarter revenue expectations due to equipment malfunctions, maintenance, and weather-related obstacles, resulting in a 34% decrease in mined Bitcoins. This decline caused its stock price to fall by 14.01% year-to-date.
The company plans to sell more of its held Bitcoins "to support monthly operations, manage reserve funds, and for general corporate purposes."
3) Tesla, Inc.
The automotive giant founded by Elon Musk entered the Bitcoin market in February 2021, acquiring $1.5 billion worth of Bitcoin to seek diversified investment channels and optimal profit value. Within a year, the company sold 75% of it, citing concerns about low liquidity due to the China COVID-19 lockdown.
According to Arkham's estimate, as of April 2024, this electric car manufacturer holds approximately 11,509 Bitcoins. The first-quarter balance sheet shows that net digital assets have remained unchanged since the fourth quarter of 2022, with Bitcoin accounting for the vast majority of funds.
Despite accepting DOGE as a payment method for goods, Tesla holds a small amount of this Memecoin. Its stock performance has recently declined, with a year-to-date decrease of 29.64%.
4) Coinbase Global, Inc.
This U.S.-based company is the world's largest publicly traded CEX, holding over 9,100 Bitcoins. It plays a significant role in the cryptocurrency field, serving retail users and institutions and custodianship of hundreds of thousands of Bitcoins.
Similar to MicroStrategy, Coinbase's stock has risen since the beginning of 2024. Despite regulatory crackdowns by the SEC, its stock has risen by 26.44% year-to-date, benefiting from the surge in Bitcoin prices.
5) Hut 8 Corp.
This Canadian mining company is the only non-U.S. company among the top five publicly traded holders and the second-largest publicly traded mining company, holding approximately 9,100 Bitcoins.
According to Benchmark's report, these held Bitcoins provide "significant liquidity and the ability to capture gains during Bitcoin price increases." Its value is approximately $592 million, representing around 82% of Hut 8's market capitalization.
Similar to Marathon Digital, the company has faced financial difficulties this year, with its stock price falling by 33.81% year-to-date.
Summary
Buying Bitcoin and holding it for the long term, then waiting for its appreciation, is one way to make money. However, the continuous development of various assets and financial products also provides opportunities for indirect participation, including Bitcoin ETFs (spot and futures), stocks of entities with large Bitcoin holdings, and funds investing in Bitcoin or blockchain-related companies.
It can be seen that, driven by institutions, CEXs, and service providers, Bitcoin has a complex and diverse user base, and understanding the user profile can help us understand the current level of participation and adoption of Bitcoin.
The total number of Bitcoin users does not equal the number of addresses. However, the five billion transactions conducted daily and the 67 million wallets with at least $1 balance indicate the market's active participation in Bitcoin and its increasing acceptance.
Original Title: Satoshi, companies & whales: Who holds the most Bitcoin? Original Link: https://medium.com/coinmonks/satoshi-companies-whales-who-holds-the-most-bitcoin-ddb17e653d96 Original Author: EarnBIT Translation: Plain Language Blockchain
Article Link: https://www.hellobtc.com/kp/du/06/5222.html Source: https://mp.weixin.qq.com/s/VEiVa8jFoPTbIdoUMYEo6g
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