Who’s Holding the Bag? Bitcoin’s Secret Owners Revealed!

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Blockchain analytics platform Arkham has released a new report identifying the largest known Bitcoin (BTC) holders at the start of 2026, offering a detailed snapshot of how the cryptocurrency is distributed across individuals, corporations, governments, and financial institutions. Ah, the age-old question: who’s holding the bag? And by “bag,” I mean the literal bag of digital coins that no one really understands.

Top Bitcoin Holders

Looking across major ownership categories, Arkham’s verified on-chain data shows that the largest individual holder remains Bitcoin’s pseudonymous creator, Satoshi Nakamoto. Nakamoto’s wallets contain 1,096,358 BTC, valued at approximately $75 billion, representing 5.5% of the total supply. How’s that for a midlife crisis? Satoshi’s probably out there sipping espresso and smirking, “I told you I’d never be found.”

Among cryptocurrency exchanges, Coinbase ranks first. The digital asset platform holds 993,069 BTC worth roughly $68 billion, accounting for about 5% of the circulating supply. Oh, Coinbase-because nothing says “trust us” like a company that’s basically a glorified piggy bank for the rich.

Binance, Robinhood, and Upbit also rank among the largest cryptocurrency exchange holders, with approximately 660,000 BTC, 184,000 BTC, and 180,000 BTC, respectively. Because nothing says “I’m a global titan” like hoarding Bitcoin and pretending you’re not just another middleman.

In the US sport Bitcoin exchange-traded fund sector (ETF), BlackRock stands out as the largest ETF issuer by Bitcoin holdings, with 761,801 BTC valued at about $52 billion, equivalent to 3.8% of supply. BlackRock, the financial equivalent of a shark in a tuxedo, now owns more Bitcoin than a man who’s never left his basement.

Asset manager and also crypto exchange-traded fund issuer Grayscale currently holds 218,000 BTC valued at around $20 billion, with all of its assets custodied by crypto exchange Coinbase. Because nothing says “transparency” like putting your money in a vault that’s basically a cousin of the company that runs the vault.

Strategy Leads Corporate BTC Race

Strategy, formerly known as MicroStrategy, remains the largest public corporate holder. The company has accumulated Bitcoin steadily since August 2020, making purchases every few weeks. Because nothing says “we’re serious” like buying Bitcoin like it’s the last slice of pizza at a party.

Its total holdings now stand at 714,644 BTC, worth approximately $54.3 billion. Of that amount, 415,230 BTC are directly confirmed on-chain, valued at $28 billion, representing 2.1% of supply, while the broader total equates to roughly 3.5%. Because why just hold Bitcoin when you can hold it in multiple places and confuse everyone?

Other public companies are also building significant reserves. MARA, a North American Bitcoin mining firm, operates nine mining facilities and averaged 22.7 BTC mined per day in September 2025. Because nothing says “I’m a mining empire” like operating nine facilities and still only being able to mine 22.7 BTC a day. Progress!

Arkham data shows MARA controls 13,000 BTC on-chain, valued at about $864 million, though the company reports a treasury reserve of 53,200 BTC. Because if you can’t trust a company’s own numbers, who can you trust? A blockchain? Please.

The Biggest Private And Government Holders

Private companies also command sizable Bitcoin positions. Tether leads this group with 96,369 BTC valued at $6.5 billion, representing 0.48% of total supply. Because nothing says “I’m a stablecoin” like holding Bitcoin and pretending you’re not just another crypto scam.

SpaceX, founded by Elon Musk, holds 8,285 BTC, according to Arkham’s verified data. Because if you’re launching rockets, you might as well hoard Bitcoin too. Practical, right?

Additionally, the Bitcoin Treasuries website lists Block.one as the largest private corporate holder with 164,000 BTC. However, Arkham notes that Block.one’s holdings cannot be independently verified on-chain. Because if it’s not on-chain, is it even real? Or just a fancy lie?

Government holdings form another key category. Arkham’s data identifies the United States government as the largest verified state holder, with 328,372 BTC worth approximately $22 billion, representing 1.64% of the total supply. The U.S. government, the ultimate crypto enthusiast, holding Bitcoin like it’s a secret weapon from a James Bond movie.

The United Arab Emirates is also emerging as a major player. Arkham identified significant mining activity in the Gulf state, with 6,800 BTC attributed to operations conducted by Citadel, a public mining firm majority-owned by the UAE Royal Group through International Holding Company (IHC). Because nothing says “I’m a global power” like mining Bitcoin in a desert and pretending you’re not just another middleman.

At the time of writing, Bitcoin was trading at around $66,299. It registered losses of 2% and 1.2% in the 24-hour and seven-day time frames, respectively. This has prevented the token from surpassing the nearest resistance wall at $70,000. Because nothing says “I’m a resilient asset” like failing to break $70,000 despite everyone’s best efforts.

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2026-02-19 15:24