Arkham Intelligence vs Bitcoin Companies: Forensics vs Verification

Saylor said he would never reveal his Bitcoin addresses.

So Arkham found them anyway.

Arkham

@arkham

SAYLOR SAID HE WOULD NEVER REVEAL HIS ADDRESSES … SO WE DID We have identified an additional 70,816 BTC belonging to Strategy, bringing our total identified MSTR BTC holdings to $54.5 Billion. We are the first to publicly identify these holdings. This represents 87.5% of

5:58 PM · May 28, 2025

7,955

$54.5 billion in Bitcoin, identified through AI wallet clustering. 96% of Strategy’s holdings mapped without the company lifting a finger.

Arkham Intelligence is the most technically impressive tool in this space. Bitcoin Companies actually uses Arkham’s entity data as one of our on-chain verification sources. So this isn’t really “vs.” It’s more like: which tool do you open first?

At a Glance

How They Work Together

This is the key insight. Arkham and Bitcoin Companies aren’t really competitors. They’re complementary.

Arkham does the heavy lifting: AI wallet clustering, address labeling, entity matching across 20+ blockchains. They’ve identified wallets for 150,000+ entities.

Bitcoin Companies builds the leaderboard on top: We take self-reported claims (SEC filings, press releases, tweets) and match them against on-chain data from sources like Arkham. Each company gets a verification percentage showing how much of their claimed BTC is confirmed on the blockchain.

Both data layers are independently verifiable. Click through to the Arkham entity page. Check the blockchain explorer. Read the SEC filing. Everything is linked.

Where Arkham Leads

Technical capability

Nothing else comes close. The MicroStrategy discovery was just the beginning:

Arkham

@arkham

BREAKING: $32 BILLION OF MICROSTRATEGY BTC NOW ON ARKHAM Arkham has identified an additional $25 billion of Microstrategy BTC, bringing our coverage of their Bitcoin to 96%. We are the first to publicly identify these holdings on-chain.

5:00 PM · Jan 16, 2025

1,586

800 million address labels. 150,000+ entities. AI-driven clustering that gets better with scale.

Discovery

Arkham can find wallets companies haven’t disclosed. Bitcoin Companies can’t. If someone is hiding something, Arkham is how you find it.

Multi-chain

Bitcoin, Ethereum, Solana, 20+ chains. If an entity holds assets across networks, Arkham shows the full picture.

Investigation tools

Visualizer for transaction networks. Tracer for fund flows. Alerts for wallet activity. These are forensic tools for active investigation.

Where Bitcoin Companies Leads

A simple leaderboard

Arkham is powerful but overwhelming. No “Top 50 Bitcoin Companies” view. No categories. No ranked list.

Bitcoin Companies is a leaderboard. Open it. See the rankings. Filter by miners, ETFs, countries. No technical knowledge needed.

Dual verification with sourcing

Not just on-chain data. Both claimed (filings, press releases) AND verified (blockchain), side by side, with a percentage match. Every source is linked. Every claim is traceable.

Interactive world map

A macro view of where Bitcoin is flowing globally. Countries colored by BTC concentration. Tier markers. Pinch-to-zoom on mobile. Not just “who holds what” but “where.”

Mobile-first

Built for phones. Bottom sheets, touch navigation, responsive map. Arkham is a desktop analytics platform.

No controversy, no token

Bitcoin Companies has no AI surveillance, no deanonymization mission, no ARKM token dynamics, no privacy concerns.

When to Use Each

The best workflow: Arkham for deep investigation. Bitcoin Companies for the verified overview and global map.

Proof of reserves is where both tools converge:

Stephane Bounmy

Built BitcoinCompanies so my kids can learn Bitcoin on a map full of 🐉 🐋 🐳 🦈 🐬 🐙 🐠 🦀 🦐.
Turns out adults like it too.

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