Whales – A group of mammals from the order of cetaceans of larger sizes. They are the largest mammals on Earth. But seriously. The group called in this way on the cryptocurrency market are people who have significant funds in digital assets that allow them to influence the price. So far, little is known about this group of people. One can only speculate on the identity of fat players, as opposed to regulated markets where it is known who and how much cash is pumping into stock prices.
See the picture This is how a large capital holder is able to absorb your orders, regardless of which side they are on.
Bitcoin’s bigwig? Do you know who belongs to them?
It is estimated that most of the BTC already mined belongs to a smaller group of owners. So by collecting all retailers we still won’t get a quantitative advantage in the market. But this is not bad news because nobody wants to lose and full profit taking is almost impossible. Unless someone wants to lower the rate to $ 1. A good example of the largest BitCoin holders could be to analyze the 100 wallets that have the largest amount of cryptocurrency. However, with the relatively high anonymity of the wallet itself, it is almost impossible. Every now and then we’ll hear about new people coming out, but it takes time.
Due to the very nature of the cryptocurrency market and the anonymity associated with the wallets to which Bitcoins are assigned, it is difficult to assess who the addresses with the largest amounts of BTC belong to. However, media reports allow speculation as to who could qualify for the big fish group.
Here are 10 institutions and individuals that may own the largest amounts of BTC
- Barry Silbert – founder and CEO of Digital Currency Group. According to Forbes reports, his cryptocurrency holdings could have been worth $ 500 million in January 2018.
- Tim Draper – founder of Draper Associates. In 2014, he bought 29,656 Bitcoins.
- Michael Novogratz – founder and CEO of Galaxy Digital. He has invested a significant portion of his fortune in BTC. Forbes reports that in January 2017 it owned assets worth one billion dollars.
- Tyler i Cameron Winklevoss – co-founders of the Gemini cryptocurrency exchange. In 2011, they reportedly acquired Bitcoin for $ 11 million. Back then, one BTC was only worth $ 120.
- Blockchain Capital – investment fund and venture capital company. She has invested in startups related to the cryptocurrency industry and numerous cryptocurrencies.
- Brock Pierce – co-founder of Blockchain Capital and Block.one. He is said to have amassed a billion dollar cryptocurrency, but he wasn’t just investing in Bitcoin.
- Matthiew Roszak – founder of the Tally Capital investment fund. According to reports, he has cryptocurrency wallets worth between $ 900 million and $ 1 billion.
- Changpeng Zhao – CEO and founder of the Binance cryptocurrency exchange. He amassed a fortune ranging from $ 1.1 billion to $ 2 billion. While a significant amount of this amount may be stored in Binance Coin, he has likely invested in Bitcoin as well.
- Roger Ver – also known as Bitcoin Jesus. While it is mainly associated with Bitcoin Cash, it reportedly owned around 400,000 BTC in 2014.
- Brian Armstrong – CEO and founder of Coinbase. In January 2018, he owned cryptocurrency assets worth a billion dollars.
The presented list is only a fraction of the big players. However, the selected persons may be in the group of the largest market players.
Impact on the market
Bitcoin whales are a very important part of the market. It is the massive movements of their coins that can have a huge impact on the BTC price. In this way, buying or selling trends are created. With this in mind, the big guys who decide to sell some of their Bitcoins can lead to a sharp drop in the price of this cryptocurrency. As a consequence, many other investors are starting to panically sell out their coins. The same relationship also occurs in the opposite situation. As large amounts of coins are bought from the market, there is a sudden spike in Bitcoin’s price. This in turn prompts other players to buy it. Do you know a situation where you sell down and buy uphill?
While many people suggest that the big players are only manipulating the market, in some cases the impact of their purchasing decisions has been more positive than negative. For example, a report released by Chainalysis revealed that holders of 32 of the largest Bitcoin wallets traded in the herd, buying BTC after its price fell. In fact, research shows that as early as 2011, major market players were more responsible for Bitcoin’s upward movement than its decline. This suggests that while whales have too much control over Bitcoin’s rate, a significant proportion of them have long been trying to make this market a success.