Crypto Updates

Robinhood Bitcoin (BTC) and Crypto Stash Grows to $23,590,032,000, Up 14% in Just Six Months: Coinbase Director

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American retail trading giant Robinhood has reportedly grown its digital asset holdings substantially in the past six months, according to an on-chain expert.

Parsing through data from blockchain intelligence firm Arkham, Coinbase director Conor Grogan estimates that Robinhood’s Bitcoin (BTC) stash has grown 14%, adding to its $23.59 billion holdings.

At the same time, Grogan says Robinhood users’ Ethereum (ETH) holdings have decreased.

“Robinhood’s BTC holdings have increased by ~14% in the last 6 months; meanwhile user ETH holdings have actually decreased ~9%

Retail users are beginning to come back to crypto, just not to ETH so far.”

Source: Conor Grogan/X

Grogan says that based on his analysis of Arkham’s data, Robinhood’s BTC wallet is the third biggest in existence, just behind crypto exchanges Binance and Bitfinex.

“All are estimates pulled together with Arkham’s tags as well as a few of my own

Robinhood’s cold storage address is the 3rd largest single BTC wallet, owning .69% of all BTC ever made.”

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Source: Conor Grogran/X

According to Grogan, Robinhood missed out on a 1,300% gain by not holding Solana, instead opting to avoid SOL due to it being listed as an unregistered security by the U.S. Securities and Exchange Commission (SEC).

At time of writing, Bitcoin is trading at $71,869.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Ongky Ady Widyanto

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