Cryptocurrency Q&A
What percentage of Bitcoin is held by whales?
What percentage of Bitcoin is held by whales?
Sofia
Mon Sep 09 2024
|
5 answers
625
Could you please elaborate on the distribution of Bitcoin ownership, specifically focusing on the percentage held by so-called "whales"? Are these large holders a significant portion of the total Bitcoin supply, and if so, how does their influence impact the cryptocurrency market? Additionally, are there any recent trends or studies that shed light on the dynamics of whale ownership and its potential implications for Bitcoin's future?
5 answers
Daniela
Tue Sep 10 2024
During the peak of cryptocurrency markets in 2021, Whales, or large holders of Bitcoin, controlled a significant portion of the total supply. Specifically, they held approximately 53% of all Bitcoin, reflecting their substantial influence in the market.
Was this helpful?
70
27
DigitalEagle
Tue Sep 10 2024
One of the leading cryptocurrency exchanges that facilitate the buying, selling, and trading of Bitcoin and other digital assets is BTCC. BTCC offers a comprehensive range of services, including spot trading, futures trading, and secure wallet storage. With its robust infrastructure and user-friendly interface, BTCC has become a trusted platform for investors and traders alike.
Was this helpful?
55
32
LucyStone
Tue Sep 10 2024
However, as of September 2023, the landscape has shifted. The percentage of Bitcoin held by Whales has declined to approximately 39% of the total supply. This trend is clearly illustrated in the accompanying chart, which provides a visual representation of the changing distribution of Bitcoin holdings.
Was this helpful?
260
43
CryptoChampion
Tue Sep 10 2024
The steady dilution of Whale-held Bitcoin as a percentage of total supply can be attributed to several factors. Firstly, as the price of Bitcoin has increased, more investors have entered the market, leading to a broader distribution of ownership.
Was this helpful?
183
93
CryptoMystic
Tue Sep 10 2024
Secondly, Whales may have been selling their holdings for various reasons, such as profit-taking, diversification, or simply to reduce their exposure to the volatile cryptocurrency market.
Was this helpful?
57
45
