📋 Ranking of the 10 largest accumulators (July/2025)

Position Entity / Wallet Estimated BTC Type

1 Satoshi Nakamoto (initial addresses) ~1,100,000 Individual / pioneer

2 Binance (total exchanges + cold wallets) ~550,000–623,000 Exchange

3 MicroStrategy (corporate) ~461,000 Public company

4 BlackRock (IBIT ETF) ~350,000 Institutional ETF

5 U.S. Government ~205,000 Government

6 Fidelity (FBTC ETF) ~198,000 Institutional ETF

7 Grayscale (GBTC Trust) ~195–227,000 ETF / Trust

8 China (government) ~190,000 Government

9 Bitfinex Cold Wallet ~156,000 Exchange

10 Robinhood Cold Wallet ~141,000 Fintech / exchange