Satoshi Nakamoto holds 1.096 million BTC according to Arkham's 2026 ranking of top Bitcoin holders, making the pseudonymous Bitcoin creator the largest known holder of the cryptocurrency. Coinbase ranks second among labeled entities with approximately 981,000 BTC. Arkham based its Satoshi attribution on the Patoshi Pattern, a known early-mining signature linked to Bitcoin's creator, and includes known addresses from which Satoshi spent BTC, estimating the coins came from mining about 22,000 blocks in Bitcoin's earliest period. At 1.096 million BTC, Satoshi's position represents about 5.5% of Bitcoin's fixed 21 million supply, while Coinbase's holdings represent roughly 5%. The ranking groups wallets into entities when addresses are believed to be controlled by the same person, company, exchange or institution, providing a clearer picture of Bitcoin's ownership structure as the asset shifts toward institutional custody through exchanges, ETFs and corporate treasury holdings.
Arkham Attributes 1.096 Million BTC to Satoshi Using Patoshi Pattern
Arkham said its Satoshi attribution is based on the Patoshi Pattern, a known early-mining pattern linked to Bitcoin's creator. The firm includes known addresses from which Satoshi spent BTC in its calculation. Arkham estimates that Satoshi accumulated the 1.096 million BTC by mining approximately 22,000 blocks in Bitcoin's earliest period. The coins have not moved in any meaningful way since Bitcoin's early years. Coinbase holds about 981,000 BTC as an exchange and custodian, meaning the company holds large amounts of Bitcoin on behalf of customers, institutions and other products rather than owning all coins outright.
Institutional Entities Dominate Top Bitcoin Holder Rankings
After Satoshi and Coinbase, Arkham lists Strategy with 844,000 BTC, BlackRock with 732,000 BTC, Binance with 675,000 BTC and Fidelity Custody with 426,000 BTC. The U.S. government holds about 324,000 to 325,000 BTC, mostly from criminal asset seizures. Spot Bitcoin ETFs launched in the United States in January 2024. Arkham said it identified the onchain locations of ETF holdings after launch, including major issuers such as BlackRock, Fidelity, Grayscale, Bitwise and ARK Invest. Arkham notes that Strategy's full holdings include Bitcoin that may not be visible directly under the company's entity page because a portion is held by Fidelity Custody. Wallet-level rankings can be misleading because large holders typically split assets across many addresses for security and operational reasons. The largest individual wallets are mostly exchange cold wallets, including Binance addresses with hundreds of thousands of BTC.
Satoshi's Dormant Holdings Remain Untouched Since Early Years
Satoshi's position remains unique because it is both the largest and the least active. Unlike Coinbase, BlackRock or Binance, Satoshi is not operating as a custodian or investment vehicle. The coins appear to represent early mining rewards from the network's launch phase. The market generally treats those coins as dormant. The holdings have remained one of the most closely watched dormant positions in financial markets. Bitcoin remains highly concentrated among a small number of identifiable entities, but much of that concentration reflects custody, ETFs and treasury structures rather than simple individual ownership.
FAQ
How much Bitcoin does Satoshi Nakamoto hold according to Arkham?
Arkham estimates Satoshi Nakamoto holds 1.096 million BTC, representing about 5.5% of Bitcoin's fixed 21 million supply. The firm based this attribution on the Patoshi Pattern and known addresses from which Satoshi spent BTC, estimating the coins came from mining approximately 22,000 blocks in Bitcoin's earliest period.
Which entities rank as the largest Bitcoin holders after Satoshi?
After Satoshi's 1.096 million BTC, Coinbase ranks second with approximately 981,000 BTC, followed by Strategy with 844,000 BTC, BlackRock with 732,000 BTC, Binance with 675,000 BTC, and Fidelity Custody with 426,000 BTC. The U.S. government holds about 324,000 to 325,000 BTC, mostly from criminal asset seizures.
When did spot Bitcoin ETFs launch in the United States?
Spot Bitcoin ETFs launched in the United States in January 2024. Arkham identified the onchain locations of ETF holdings after launch, including major issuers such as BlackRock, Fidelity, Grayscale, Bitwise and ARK Invest.
