The number of crypto billionaires is growing fast, here’s why
Satoshi Nakamoto has more than 1 million BTC, making him the largest Bitcoin holder. He is followed by the founders of Grayscale and Binance, who together have about the same amount of BTC as Satoshi Nakamoto.
When looking at the largest Bitcoin holders, there are a few parties that stand out. Of course, Satoshi Nakamoto, with a total of 1,100,000 BTC, has more significant holdings than number two and three holders of Bitcoin, namely Grayscale and Binance. These companies have over 600,000 BTC and 400,000 BTC, respectively, numbers that most Bitcoin investors can only dream of.
Behind these top three Bitcoin holders are the cryptocurrency exchanges Bitfinex and OKX, both of which hold over 200,000 BTC. Then, with MicroStrategy and Block.one, there are two more parties that own more than 100,000 BTC. Below the magic limit of 100,000 BTC are a lot of anonymous wallets, but also well-known figures like the Winklevoss brothers.
All these huge amounts are not stored in one wallet, but multiple wallets are used. For example, Satoshi Nakamoto uses about 22,000 wallets for storing his BTC, while Bitfinex and Binance both use a handful of wallets. In total, there are only five wallets where more than 100,000 BTC are stored, totaling more than 4% of the total amount of Bitcoin in these wallets.
It is important to note that a huge amount of BTC allows Bitcoin whales to create a buy or sell wall effect. A buy or sell wall effect is a significant buy or sell order that causes a sharp change in price. With a sell wall, there is a good chance that the price will fall hard, while the opposite can happen with a buy wall.
Purchase a licence for this article. Powered by SharpShark.