• The Informer Post
  • Posts
  • Crypto Goliath Amasses 966,000 Bitcoin (BTC) Trove Worth $7,000,000,000: Report

Crypto Goliath Amasses 966,000 Bitcoin (BTC) Trove Worth $7,000,000,000: Report

December 04, 2019

The leading US crypto exchange Coinbase has reportedly amassed Bitcoin holdings worth about $7 billion.

Coinbase leads all exchanges worldwide (excluding China) with a balance of about 966,230 BTC, according to new data published by BitUniverse, a cryptocurrency portfolio tracker.

BitMEX is second, with a balance of about 265,540 BTC worth approximately $1.9 billion, and Bitstamp is third, holding roughly 225,660 BTC worth about $1.6 billion.

Most of the Bitcoin troves largely represent what the exchanges are holding on behalf of their customers, not strictly company fortunes.

?New research from us, powered by #PeckShield.

We did a first-of-its-kind analysis of Exchange Transparent Balance Rank

First 10 exchanges including @coinbase @BitMEXdotcom @Bitstamp @bitfinex @krakenfx @BittrexExchange @Poloniex @Gemini

Full Rank to be revealed on 12/12/2019! pic.twitter.com/JnlXNaBnD7

— BitUniverse (@bituniverse_org) December 2, 2019

A report last month from TokenData refers to the exchange as a merger-and-acquisition powerhouse, having made more acquisitions than any other exchange.

“Coinbase is the leader in Strategic M&A with 16 acquisitions. While the company’s M&A strategy mainly consists of acquihires and technology ‘tuck-ins’, it has also engaged in two significant acquisitions such as Earn ($100M) and Xapo’s custody business ($55M).”

Coinbase shows no signs of slowing down. In October, the San Francisco-based exchange secured an e-money license from regulators at the Central Bank of Ireland, one of only a few companies in the space to obtain such approval.

TechCrunch has also reported that after the Ripple-backed rental startup Omni closed its doors, Coinbase initiated plans to hire 10 of their engineers.

BitUniverse says it will release a full list of exchange balances on December 12th.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.