Coinbase holds more Bitcoin than any other exchange, and that's probably a good thing
According to a recent data analysis report put out by Longhash, it was revealed that Coinbase holds more bitcoin than anyone in their cold wallets.
Specifically, it was revealed that Coinbase holds close to 1 million bitcoin in total.
Which, for those keeping track, represents close to 6% of all bitcoin in circulation!
Coinbase holds roughly 6% of all bitcoin in the world on behalf of their clients.
Coinbase holds far and away the most bitcoin...
Of all the exchanges studied, which is all the largest centralized ones, Coinbase holds far and away the most bitcoin.
Check it out:
As you can see, there was no other exchange that ended the year with over 300k bitcoin except Coinbase.
Interestingly enough, just about all the exchanges ended the year with more bitcoin than they started it with, following the same trend of Coinbase.
With Huobi, Binance, and Bitfinex holding the most outside of Coinbase.
Huobi was the most interesting as they started the year in 6th place in terms of bitcoin holdings, and finished the year in 2nd place.
It appears Huobi is becoming the go-to exchange for some of the largest whales.
Coinbase holding the most bitcoin is a good thing overall
Of all the exchanges listed, Coinbase has some of the best security and insurance of any of them.
Which means, they are the least likely to be hacked, and if they are, customers are the least likely to lose their funds.
Coinbase is the most regulated and also likely the most trusted by US institutions, as evidenced by the large holdings and also by the lack of movement in Coinbase wallets on the 'Proof of Keys' day earlier this month.
Institutions tend to be more long-term in their thinking and less influenced by day to day price action.
Stay informed my friends.