Arkham Report Maps Bitcoin Holdings, With Satoshi Nakamoto Ahead of Coinbase and BlackRock

Bitcoin’s supply is capped at 21 million coins, making the concentration of holdings an important factor in market liquidity and price volatility. Arkham Intelligence tracks major holders by labeling on-chain addresses. As of July 20, 2026, Satoshi Nakamoto was still considered the largest holder, while the growth of exchange custody and spot ETFs has made Coinbase and BlackRock key institutional holders.

Arkham’s latest data show that addresses linked to Satoshi Nakamoto hold 1.096 million Bitcoin, followed by Coinbase with 982,000 and BlackRock with 775,000. Together, they hold about 2.853 million Bitcoin, or roughly 13.6% of the cryptocurrency’s maximum supply. The report did not provide a U.S. dollar valuation, which would fluctuate with Bitcoin’s price.