An Analytical Dive into the Major Bitcoin Holders

Bitcoin has been on the financial radar for over a decade. The digital currency has garnered significant interest and capital. In this article, we'll delve into the holdings, profits, and flows of some of the largest known Bitcoin holders.

1. Bitfinex:

- Addresses: 2

- Average cost price: $25k

- Cost basis: $4.9b

- Amount held: 196k BTC

- Current price: $29k

- Current value: $5.72b

- Profit/loss: +14%

Note: Bitfinex likely acts as a custodian for these Bitcoins on behalf of their customers, suggesting that Bitfinex users have, on average, profited from their Bitcoin holdings.

2. US Government:

- Addresses: 5

- Average cost price: $29k

- Cost basis: $5.9b

- Amount held: 204k BTC

- Current price: $29k

- Current value: $5.93b

- Profit/loss: -0.16%

3. Binance:

- Addresses: 9

- Average cost price: $19k

- Cost basis: $11.9b

- Amount held: 612k BTC

- Current price: $29k

- Current value: $17.8b

- Profit/loss: +49%

Note: Like Bitfinex, Binance is likely a custodian for these assets on behalf of their users. This suggests that Binance Bitcoin holders are, on average, in profit.

4. Satoshi Nakamoto:

It's believed that Satoshi Nakamoto, Bitcoin's creator, has Bitcoin worth $30b in unidentified addresses. Known addresses linked to Satoshi aggregate to approximately $650k.

Methodological Clarification:

The average cost basis analysis is based on the assumption that the entities moved their assets to cold storage immediately after purchase. The exact purchase prices are elusive. Prices are approximated based on when assets were moved to the wallets.

6. Speculations for the Future:

Who might dominate Bitcoin holdings by the end of the next cycle? Contenders could include nation-states, central banks, ETF asset managers like Blackrock and Vanguard, new exchanges, and existing exchanges.

7. What’s Next?

A subsequent piece will explore unidentified Bitcoin holders, highlighting their profits and flows. For an in-depth analysis, all insights were obtained using Loch.

Links for further exploration:

Binance: https://app.loch.one/home/64cf90fd69518f0b9e072a8e

Satoshi: https://app.loch.one/home/64cf912506875c9c6f89e490

Bitfinex: https://app.loch.one/home/bc1qgdjqv0av3q56jvd82tkdjpy7gdp9ut8tlqmgrpmv24sq90ecnvqqjwvw97

US Govt: https://app.loch.one/home/64cf912506875c9c6f89e490