Analysts estimate Coinbase’s bitcoin reserves.

The cryptocurrency exchange Coinbase holds nearly 1 million BTC, roughly 5% of all Bitcoin in circulation, according to analysts at Arkham Intelligence.

Experts noted that roughly the same number of coins belong to the creator of the first cryptocurrency Satoshi Nakamoto.

«Given the latest financial indicators of the exchange, Coinbase probably owns thousands more unlabelled bitcoins,» Arkham Intelligence said.

In September, Coinbase CEO Brian Armstrong called Bitcoin ‘the most important’ cryptocurrency, while confirming the exchange’s plan to integrate the Lightning Network.

Earlier, Arkham Intelligence analysts linked more than 1,750 addresses to the Grayscale Investments Bitcoin Trust. Collectively they hold 627,779 BTC (~$16.15 billion).

Earlier this year, specialists from the same firm linked the Robinhood online broker to the third-largest Bitcoin address, holding 26,081 BTC (~$3.09 billion).