The number of crypto billionaires is growing rapidly, here’s why
Satoshi Nakamoto owns over a million BTC, making him the largest Bitcoin holder. He is followed by the founders of Grayscale and Binance, who together have roughly the same amount of BTC as Satoshi Nakamoto.
When looking at the biggest bitcoin holders, there are a few parts that stand out. Of course, Satoshi Nakamoto, with a total of 1,100,000 BTC, holds larger holdings than the number two and three Bitcoin holders, 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 cryptocurrency exchanges Bitfinex and OKX, both of which hold over 200,000 BTC. Then, with MicroStrategy and Block.one, there are two other parties that own over 100,000 BTC. Below the magic limit of 100,000 BTC are many anonymous wallets, but also well-known personalities like the Winklevoss brothers.
All these huge sums are not stored in one single wallet, but multiple wallets are used. For example, Satoshi Nakamoto uses around 22,000 wallets to store 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 large buy or sell order that causes a large change in price. With a sell wall, there is a good chance that the price will fall sharply, while the opposite can happen with a buy wall.
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