Over the past decade, several bitcoin wallets have been named the largest in existence. However, since 2021, Binance has controlled the largest bitcoin address, which currently holds 248,597 $BTCand is worth approximately $6.66 billion. Just over nine years ago, the largest wallet belonged to the U.S. government after it seized 144,342 $BTCfrom the Silk Road’s Dread Pirate Roberts (DPR).

Binance Has Controlled the Largest Bitcoin Wallet Since March 2021

Bitcoin’s auditable and transparent network allows people to view the largest bitcoin ($BTC) holders, commonly referred to as the “Bitcoin Rich List.” Currently, the largest $BTCwallet is controlled by Binance, known as the “Binance Cold Wallet,” which holds 248,597 $BTC, accounting for 1.28% of the entire $BTCsupply. The wallet was first observed in October 2018 and has since received 790 incoming transfers and made 42 outgoing transfers.

The “Binance Cold Wallet” is currently the largest $BTCwallet in existence.

It wasn’t until 2021 that Binance’s cold wallet address became the largest in existence. Archived data shows that on February 3, 2021, Huobi controlled the largest $BTCaddress, which held 141,452 $BTC, while the second-largest wallet, holding 110,011 $BTC, belonged to Bitfinex. On that day, Binance’s cold wallet address was the fourth largest, holding approximately 92,881 $BTC. By the end of February 2021, Binance’s cold wallet had moved up to the second-largest position, just below Huobi’s wallet.

On March 10, 2021, or 819 days ago, the Binance cold wallet became the largest $BTCwallet in existence, holding a balance of 143,528 $BTCon that day. Since then, it has remained the largest wallet, currently holding 248,597 $BTC. However, in June 2021, it reached an all-time high of approximately 299,427 $BTC. The Binance cold wallet address has had minimal activity this year, with the exception of sending 2,000 $BTCon January 7. Binance’s control of the top $BTCwallet is a significant departure from the situation nine years ago.

From DPR to Bitfinex, Huobi, and Binance

On February 9, 2014, the U.S. government held the largest $BTCwallet after seizing assets from Silk Road administrator Dread Pirate Roberts (DPR). In February 2015, after the government sold the DPR stash, the “19KJZ” address became the largest, holding 180,060 $BTC. Data from the rich list in 2016 is unknown, as a snapshot was not taken that year. However, in April 2017, Bitstamp held the largest bitcoin wallet, holding 128,440 $BTC. In January 2018, the largest $BTCwallet was a Bittrex cold wallet, which once held 179,203 bitcoin.

In February 2014, the government-seized DPR coins from the Silk Road marketplace was the largest wallet in existence at the time.

In January 2019, the Bitfinex cold wallet was the largest bitcoin address, with a cold wallet associated with Binance as the second largest. However, by 2020, the Huobi wallet became the leading $BTCwallet, with the older Binance wallet becoming the fifth largest, holding approximately 89,684 $BTC. Huobi held the top position until March 10, 2021, when the new Binance cold wallet (34xp4) took over as the largest $BTCwallet.

The Binance cold wallet currently holds 248,597 $BTC, which is approximately 70,587 $BTCmore than the second-largest $BTCwallet controlled by Bitfinex, holding 178,010 $BTC. It is also the only bitcoin address with over 200,000 $BTC. While Binance has seen a significant number of bitcoins leave the centralized crypto exchange in the last few days, not a single satoshi has left the massive wallet since January. The address does receive $BTCdust (small fractions) transfers regularly, almost on a daily basis.

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