Bitcoin One-Percenters Hold Over Half Of BTC’s Entire Cryptocurrency Wealth
Have you ever heard of the Bitcoin whales? These large investors comprise 1% of the total wallets but have about 55% of all the Bitcoins in the world. Because of this, these are very powerful holders with the power to manipulate the market. 42 percent of them did not sell their assets during the peak of the crypto mania, so they are still very powerful.
According to a recent research made by Diar, data suggests that less than 1 percent of all the wallets in the world control over $100 billion USD in Bitcoin (BTC). In fact, more than half of the BTC supply in circulation right now is controlled by wallets that have at least 200 BTC.
Some Money From The Whales Was Never Used
The research also shows that the whales did not use about a third of their money ever for outgoing transactions. This means that the money was never moved outside of the wallets of these people. According to Diar, this could be, in fact, reserves from crypto exchanges. However, the number is surprising when you consider how much BTC fluctuates.
When Bitcoin exceeded the price of $20,000 USD in January, a lot of people blamed the “market manipulators” for it and for the hysteria that took the market by assault at the time.
Diar also suggests that some of the “sleeping BTC” could be accidentally locked up, too, because the owners lost their private keys, something that was known to happen in the past. Either way, the research proves that there is a lot of powerful Bitcoin holders out there.