Coinbase is reported to hold approximately 5% of the current Bitcoin market supply.
According to the platform Arkham, this amounts to about 947,755 BTC and translates to a total value of over $25 billion in cryptocurrency held in Coinbase wallets.
Interestingly, this is around the same number of bitcoins held by the elusive creator of Bitcoin, Satoshi Nakamoto.
The largest cold wallet controlled by Coinbase holds approximately 10,000 BTC, with the remaining bitcoins dispersed among 36 million addresses.
Coinbase is one of the largest Bitcoin holders, along with software developer MicroStrategy, who currently holds 152,800 BTC.
The CEO of MicroStrategy, Michael Saylor, recently announced that his team will continue to accumulate BTC and will not sell even if prices decline.
According to Santiment, wallets with balances ranging from 100 to 100,000 BTC control up to 55.52% of the total market supply, while another group of holders with up to 100 BTC make up just over 41%.