You may have what you consider a large quantity of Bitcoin that might even make you rich if you sold all of it. The truth is there are way bigger Bitcoin fish in this pond. In fact, most of the digital currency available worldwide are owned by just a few thousand super wealthy people. Who are these Bitcoin owners?
How to Find Them
Well, sorry to say, the owners are anonymous. These individuals are sitting on piles of Bitcoin, and they’re worth billions of dollars. And not surprisingly, they don’t plan on selling anytime soon. In fact, they are gobbling up more bitcoin every day. However, is there any way to possibly find out their identity?
The short answer is, not really. There might be lists online that say who ‘says’ they are the wealthiest Bitcoin owners but, sorry to say, the Bitcoin wallets are anonymous. By parsing the blockchain of an estimated 23 million Bitcoin wallets we know of, we can exclude more than 13 million of them because they only own a fraction of a bitcoin. Then we have the other wallets with 1,000 to 1,500 Bitcoins in them. Impressive amounts but not nearly the highest earners. That leaves us with 111 wallets that have more than 10,000 bitcoins each. When you do the math, that values over tens of millions of dollars of cryptocurrency in each wallet.
How Much are the Largest Bitcoin Wallets Worth?
BitInfoChart’s calculations have found out that 87 percent of all Bitcoins that have ever been mined are owned by a measly 0.05%, that is only half of a percent, of all total Bitcoin wallets. The second wealthiest wallet in the world has 168,583 bitcoins in it. That is worth a whopping estimated $1,069,594,486 USD. This wallet is thought to be simply a cold storage wallet that remains offline in order to avoid hacking. The owner of this wallet is a cryptocurrency exchange. The truth is, that may be the case with all of the top 100 Bitcoin wallets around the world. They own Bitcoin with an estimated collective value of $28.6 billion. How do they know this? The number of payments in and out give some insight into the nature of these owners.
The largest Bitcoin wallet as of September 18, 2018 has 168,791 Bitcoin and is worth $1,070,917,752 USD. These numbers show that the wealth is in the hands of a few owners and these individuals have an enormous amount of power.
How They Control the Market
This all may seem depressing for all of those looking to make a little extra cash from their cryptocurrency investments, but there is definitely an upside. The way the wealth is distributed shows that big money is interested in investing in cryptocurrency.
When you look at the value of amounts invested, It is almost certain that billionaires are investing and have invested in cryptocurrency. They see it as promising enough to continue holding on to existing wallet holdings, even with the threat of big market downturns like the one we saw at the end of 2017. They even see such downturns as an opportunity to buy more cryptocurrency at a reduced price. While many people look to the old school financial advisers for investment advice, maybe but the best idea for investing in cryptocurrencies is to watch, with a keen eye, the biggest wallets in the world. These crypto big fish seem capable of following and predicting the largest downturns, and use them to increase the value of their holdings. None of us know the true identity of the largest Bitcoin owners, but we can say that these large investors are committed and give a small measure of stability to the market.