If you have been in the cryptocurrency market for a while; You have probably heard new slang word specialized in crypto space!
In fact, these terms of sea creatures are taken from the law of the sea’s Food chain ecosystem , that larger creatures hunt smaller creatures, and we can associate and compare and categorize it with the amount of Bitcoin assets of people in the crypto space from small to large!
Ask yourself, “What species can you be? 🤔😃
Since Bitcoin qualifies as a form of currency, it’s able to retain a certain amount of value. One of the main reasons is the Bitcoin supply scarcity. In fact, the maximum number of bitcoins that can be mined is just under 21 million. This level of scarcity makes it possible for the value and market price of Bitcoin to increase by a considerable amount.
Who Owns the Most Bitcoin?
To understand exactly who owns the most Bitcoin , it’s important to know how much Bitcoin can be introduced into the market. When Bitcoin was first created in 2009, a hard cap of nearly 21 million was placed on the amount of bitcoins that could enter circulation. At the moment, the circulating Bitcoin supply is around 19,108,600.00 BTC (91%).
Limits have been placed on how much Bitcoin can be created each day, which means that the remaining Bitcoin will be mined progressively more slowly from now until 2140, through the process of “halving.”
Even though 19,1 million bitcoin should be on the market, it’s believed that around four million (4M) BTC have been lost since the digital currency first entered circulation. It’s believed that Satoshi Nakamoto, the pseudonymous founder of Bitcoin , was the first miner of the currency. Nakamoto mined over 22,000 blocks, and received well over one million bitcoins as cumulative block rewards. His (her/their) current ownership is believed to be around 1,000,000 BTC , which has a current value of more than $2,400,000,000 with a current value of $24,000 per BTC .
Bitcoin ownership can be identified by looking at the addresses of bitcoins in circulation. As of today, there are just three separate Bitcoin addresses that hold more than 100,000 BTC . There are additional 83 owners who hold anywhere from 10,000–100,000 BTC . The 87 wealthiest addresses hold a little over 14% of all the total Bitcoin in circulation.
According to Glassnode metrics , the number of whales is regularly increasing, institutional investors are constantly buying bitcoin . They buy bitcoin for a long time and are not going to panic with any correction.
you can also watch the Top 100 Richest Bitcoin Addresses here below:
So we know that so far in the crypto market, a few Bitcoin addresses, and minority of BTC holders with a balance of more than 5000 Bitcoins have taken over the other majority of Bitcoin’s holders especially those with less than 1 Bitcoin . Therefore If we want to examine from the point of view of supply and demand , the group that has more bitcoins can determine the movement of bitcoins .
, if the Bitcoin network becomes more mature and the number of Bitcoin shrimps (<1 Bitcoin ) increases significantly , the price can be less manipulated and get closer to the ideal of a completely decentralized network ! Analysts clarify that the calculations cannot show the true picture, they are rather superficial. The true division of bitcoin may look a little different.
1.Not all Bitcoin addresses should be treated equal. For instance, an exchange address holding the funds from millions of users needs to be distinguished from an individual’s self-custody address.
2.A Bitcoin address is not an “account”. One user can control multiple addresses, and one address can hold the funds from multiple users.
This article was more for fun and informational purposes only. It should not be considered as a Financial or Legal Advice.
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