Coinbase Controls Bitcoin, The Number Is Almost The Same As Satoshi Nakamoto's!

Coinbase is said to have large amounts of Bitcoin reserves. (Photo; Doc. CNews)

JAKARTA - Coinbase, one of the world's leading cryptocurrency exchange platforms, recently recorded its historic achievement by becoming the largest bitcoin store entity on the planet.

Coinbase is recorded to own Bitcoin worth more than $25 billion (equivalent to IDR 385 trillion) in company deposits. That means Coinbase controls nearly 5 percent of all bitcoin supplies circulating in the world.

This achievement makes Coinbase's BTC almost the equivalent of Bitcoin creator's BTC deposit Satoshi Nakamoto. Even so, until now the figure behind the name is still shrouded in mystery. No one knows whether it's an individual or group of people who compiled the famous white paper Bitcoin, according to a report by blockchain analytic firm Arkham Intelligence.

This large amount is divided into more than 36 million storage addresses owned by Coinbase. The crypto company is the owner of the largest Bitcoin that stores about 10,000 BTC in physical storage devices or commonly known as cold wallets. Not to mention BTC which is stored in other crypto wallet addresses.

However, Arkham Intelligence indicated that Coinbase may also store thousands of other bitcoins that have not been neatly sorted based on the company's latest financial data. The ongoing analysis process aims to reveal these additional addresses.

However, if we compare Coinbase's bitcoin holdings with ether (ETH), then the difference is quite significant. Coinbase only has about $2.6 billion (equivalent to IDR 40 trillion) in ETH, which is the second largest cryptocurrency by market cap.

The fact that Coinbase may have a comparable amount of bitcoin to Nakamoto's is important news because many believe that this mysterious bitcoin creator mined large amounts of bitcoin during the early development of this crypto asset.

Satoshi Nakamoto himself is estimated to have around 600,000 to 1.1 million bitcoins with a value of billions of dollars. However, tracking down all these bitcoins is a challenge because it is spread across different addresses. Meanwhile, the identity of Bitcoin creator Satoshi Nakamoto is still an unsolved mystery to this day.