Arkham Intelligence released new on-chain data showing that six entities control a combined 4.25 million Bitcoin. That’s roughly 21% of all BTC that will ever exist, and most of it isn’t going anywhere.
Satoshi Nakamoto still tops the list with 1,096,358 BTC, worth around $75 billion. Arkham traced these coins using a known mining pattern called the Patoshi Pattern, linking them to 22,000 mined blocks. None of it has moved since 2010.
Coinbase comes in second with 993,069 BTC ($68 billion) on-chain, held on behalf of itself and its custody clients. BlackRock follows at 761,801 BTC ($52 billion), most of it tied to its spot Bitcoin ETF.
Strategy, formerly MicroStrategy, reports total holdings of 714,644 BTC ($54 billion). But only 415,230 BTC shows up under its name on-chain. The rest gets attributed to Fidelity Custody because of how its custodial system groups wallets together.
The U.S. Government holds 328,372 BTC ($22 billion). Almost all of it came from law enforcement seizures, including the Bitfinex hack recovery, the Silk Road marketplace shutdown, and the LuBian Hacker address.
Tether holds 96,369 BTC ($6.5 billion) as part of its reserve management, making it the top private company holder.
Also Read: Where to Invest When Bitcoin Is Falling? Arca CIO Reveals 3 Sectors to Watch in 2026
The top four individual Bitcoin wallets are all exchange cold wallets. Binance owns the two largest, holding 249K and 157K BTC. Robinhood holds 141K BTC and Bitfinex holds 130K BTC.
These wallets store client funds, not the exchanges’ own Bitcoin.
An estimated 3.7 million BTC is permanently lost in wallets that can never be accessed. That brings the real supply well below the 21 million cap. Factor in Satoshi’s dormant coins, government holdings, ETF reserves, and corporate treasuries, and the amount of BTC that is actually available to trade keeps getting smaller.
Also Read: Should Satoshi’s Bitcoin Be Frozen? CryptoQuant CEO Warns 6.89M BTC Face Quantum Risk
Bitcoin is currently trading near $67,249, down 1% over the last 24 hours.
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