On March 18, 2025, approximately 19.83 million bitcoins were in circulation, with a notable portion on major cryptocurrency platforms. Notably, Coinbase holds 5.66% of the total circulating BTC.
From Coinbase to Bybit: The Largest Bitcoin Stockpiles on Centralized Exchanges
Cryptocurrency platforms act as primary custodians of Bitcoin (BTC). As of mid-March, this analysis highlights platforms with the largest BTC inventories. Approximately 253 centralized exchanges exist, with Coinbase leading in BTC reserves.
Coinbase, founded in June 2012 by Brian Armstrong and Fred Ehrsam, boasts an inventory of 1,123,540.12 BTC, based on data from timechainindex.com, translating to $92.7 billion using current rates.
Following Coinbase, Binance, initiated in July 2017 by Changpeng Zhao (CZ), holds 679,690.64 BTC, amounting to $56 billion based on BTC market prices as of March 18.
Bitfinex, created in 2012 by Raphael Nicolle and Giancarlo Devasini, controls 356,938.05 BTC, totaling $29.4 billion. The fourth largest is Upbit, a South Korean platform established in October 2017, which manages 175,200.89 BTC valued at $14.4 billion.
Kraken, launched on July 28, 2011, by Jesse Powell and based in San Francisco, holds 171,679.10 BTC, worth $14.1 billion. Robinhood, founded in April 2013 by Stanford alumni Vladimir Tenev and Baiju Bhatt, possesses 156,090.10 BTC valued at $12.8 billion.
OKX, a centralized exchange established in 2013 and based in Seychelles, stores 135,030.11 BTC, valued at around $11.1 billion.
Bitstamp, founded in 2011, with its registration now in Luxembourg after initially starting in Slovenia, holds 95,228.73 BTC, valued at $7.8 billion, and was acquired by Robinhood last year.
Gemini, founded in 2015 by the Winklevoss twins in New York, maintains 71,366.89 BTC worth $5.8 billion. Completing the top ten is Bybit, launched in March 2018 by Ben Zhou, which holds 58,028.32 BTC, valued at $4.7 billion.
In total, these ten exchanges control 3,022,792.95 BTC, representing 15.24% of bitcoin’s total circulating supply, equating to $249.43 billion in USD value on March 18, 2025.
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