What if AI became the largest holder of Bitcoin?

比特币巨鲸格局：AI 能否撼动传统霸主地位？

纵观各大官方排名，比特币领域的巨头通常被归为“中本聪”（Satoshi Nakamoto）、Coinbase 或 Strategy。然而，在阴影之中，一场无声的革命正在酝酿。如果下一次比特币所有权格局的重大地震并非来自亿万富翁或主权财富基金，而是……来自人工智能呢？让我们一同探索一个数字黄金可能迎来意想不到的新主人的未来。

核心要点速览

• 据 Arkham 数据显示，中本聪持有 109.6 万枚 BTC，Coinbase 持有 96.9 万枚，Strategy 持有 84.8 万枚，贝莱德（BlackRock）持有 79.9 万枚，币安（Binance）持有 71.4 万枚。
• 最大的独立比特币钱包是币安的冷钱包（持有 24.9 万枚 BTC，占供应量的 1.24%）。
• 根据 Strategy 发布的数据，自 2020 年 8 月 10 日以来，MSTR 股票的年化回报率为 52%，而同期 BTC 为 38%，标普 500 指数（SPY）为 16%。
• 据比特币政策研究所（BPI）研究，在 36 个 AI 模型的响应中，79.1% 的模型选择比特币作为保值手段。

2026 年谁是最大的比特币持有者？

According to Arkham Intelligence's report on the largest BTC holders released on September 28, 2026, Satoshi Nakamoto remains the largest Bitcoin holder, with 1.096 million BTC's.(5.5% of supply), ahead of Coinbase (969,000, 4.8%), Strategy (848,000, 4%) and BlackRock, which holds 799,000 BTC (4%) through its Bitcoin ETF.

However, if calculated by the number of crypto wallets, the rankings will change. The top four largest personal Bitcoin wallets are all cold wallets on exchanges, with 249,000 BTC (1.24% of supply) held by Binan Treasury ranking first. Arkham pointed out that these custodians hold customer deposits and usually do not represent the exchange's own positions.

Source: Arkham,"Top BTC Holders: Who Owns the Most Bitcoin (2026)," September 28, 2026

Has Strategy outperformed the S & P 500 since 2020?

According to a chart published by Strategy on October 5, 2026, MSTR shares have returned an annualized rate of 52% since August 10, 2020, compared to 38% for BTC, 19% for Nasdaq 100 Index (QQQ) and 16% for S & P 500 Index (SPY). However, this ranking reflects the perspective of the issuer. The chart notes that the start date is August 10, 2020, the start of what Strategy calls the "Bitcoin Standard Era," while other asset classes are represented by ETFs as alternatives (e.g. GLD stands for gold, VNQ stands for real estate, and BND stands for bonds).

This looks more like a transcript printed by the students themselves, and while the scores may be correct, the subjects and time periods are their choice. In terms of stocks, Arkham attributed 848,000 BTC (4% of supply) to Strategy, of which approximately 184,000 are held by its custodian, Fidelity Custody, and noted that only 83% of the bitcoins were verified on the chain. Arkham also noted that Strategy had sold Bitcoin before resuming purchases. Therefore, the annualized rate of return measures price performance rather than buying trajectory.

Will AI become the largest holder of Bitcoin?

The Bitcoin Policy Institute (BPI) conducted currency scenario testing on 36 AI models and generated a total of 9,072 responses. According to BPI's study on March 3, 2026, 79.1% of the responses involving hedging purposes chose BTC. BlackRock cited this result in its report on the machine native economy, but also highlighted the limitations of the framework itself. Its digital assets research team wrote on September 4, 2026:

These results reflect the response of the simulated model rather than observed agent behavior.

An AI agent is software that can independently plan and perform multiple tasks, including payments. In terms of actual usage, TRM Labs estimates that of this year's $52.7 million x402 settlement, AI agents account for between 0.6% and 7.5%, with the rest more like automated scripts. But for payments between AI agents, the report mainly targets stablecoins. The 79.1% is just survey data; savings need to be read from bank statements. For now, AI is only "holding an opinion" about Bitcoin, rather than having a savings account.

As a result, Arkham's list of the largest Bitcoin holders is still dominated by humans and institutions: Satoshi Nakamoto, Coinbase, Strategy and BlackRock. To get the AI agent's wallet to enter this list, what is needed is balance data on the chain, not just a simulated response. Regardless of the identity of the holder, Bitcoin itself remains a risky asset.