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Who holds the most Bitcoin? -- Arkham's top three Bitcoin holders worldwide: Satoshi Nakamoto leads, followed by Coinbase and BlackRock

Weekend market activity is boring, so here’s a fun fact to lighten the mood: In today’s market, where “whales” and big players dominate, who holds the most Bitcoin? Recently, Arkham Intelligence released a new report revealing the current distribution of Bitcoin holdings worldwide. As of March 2026, Bitcoin is highly concentrated in exchanges, ETFs, governments, and whales, with Bitcoin’s creator Satoshi Nakamoto( still holding the largest amount at 1,096,000 BTC. Details are as follows:

Holder: Satoshi Nakamoto Holdings: 1,096,000 BTC Category: Individual (initial wallet untouched)

Holder: CBase Holdings: 982,000 BTC Category: Exchange (largest exchange wallet)

Holder: BlackRock Holdings: 775,000 BTC Category: Institution (largest ETF holder)

👉Satoshi Nakamoto’s “Sleeping Bitcoin”

Satoshi Nakamoto’s 1.096 million Bitcoin were mined during the early days of Bitcoin) in 2009-2010(. These wallets have never recorded a transfer. Based on current market value, they are worth hundreds of billions of dollars—yet they have never been actively used. These “sleeping Bitcoins” have always been a focus of community attention: if Satoshi’s private keys have truly vanished forever, these coins are effectively out of circulation forever; conversely, if these wallets ever move, it could cause an unpredictable shock to the market.

👉Institutional Holdings: ETF Accelerates Bitcoin Centralization

BlackRock’s IBIT ETF holding of 775,000 BTC reflects the trend since 2024 of large-scale institutional entry via ETFs. This is also part of the broader context where miners like Marathon Digital are adjusting their treasury strategies—when giants like BlackRock and Fidelity accumulate Bitcoin through ETFs, the entire ecosystem’s holdings are rapidly becoming more concentrated among institutions.

It’s worth noting that besides the top three, other major holders include various governments), with a large portion of Bitcoin seized by the U.S.(, as well as other large exchanges and long-term early participants. The distribution of Bitcoin holdings, to some extent, also reflects the evolving power dynamics within the entire crypto market.