Who Are The World’s Biggest Bitcoin Whales?
“Bitcoin whales” encompass a diverse group of individuals, institutions, governments, exchanges, and companies who possess significant quantities of bitcoins. These notable Bitcoin whales have not only amassed considerable holdings but have also emerged as influencers, sought after for their insights into market sentiments. Now, let’s delve into the profiles of some of the most prominent Bitcoin whales presently in existence.
Factors that impact the value of cryptocurrencies, including Bitcoin, are manifold. Notably, the influence of Bitcoin whales holds great sway over the market. Whenever these whales engage in buying or selling activities, it triggers considerable ripples within the market, drawing close attention from other participants. The actions of these whales can propel Bitcoin’s price to higher levels when they make purchases, or conversely, bring about a decline when they offload their holdings.
To put it simply, Bitcoin whales encompass individuals, governments, exchanges, companies, and institutions that possess substantial quantities of bitcoins. Some of these whales have established themselves as influential figures, with people often seeking their expertise to gain insights into market trends. Let’s now explore the profiles of some of the most prominent Bitcoin whales that currently exist.
Individual Bitcoin Whales
Satoshi Nakamoto, the pseudonymous creator of Bitcoin, possesses a staggering 1 million BTC (equivalent to approximately $27 billion at present), solidifying their position as one of the most significant Bitcoin whales globally. Remarkably, Nakamoto has not made any transactions involving these bitcoins since initially mining them. If Nakamoto were ever to make a move with this substantial Bitcoin stash, it is highly likely that the market would respond to such an event.
Barry Silbert, the founder and CEO of Digital Currency Group (DCG), was an early adopter of Bitcoin. In a 2017 interview with Reuters, Silbert revealed that he had acquired approximately $175,000 worth of bitcoin in 2012, purchasing them at around $11 per bitcoin. Considering the evolution of the market since then, Silbert undoubtedly made a lucrative investment.
Established in 2013, DCG comprises five cryptocurrency-focused companies that invest in crypto startups. Over the years, these companies have accumulated around $28 billion worth of various cryptocurrencies, including Bitcoin and Ethereum.
The Federal Bureau of Investigation (FBI) also holds a substantial amount of Bitcoin, acquired through seizures of illicit properties. The FBI auctions off these seized bitcoins to interested buyers, and Barry Silbert happens to be among them. In 2013, Silbert purchased 48,000 bitcoins from the FBI.
Another well-known Bitcoin whale is Roger Ver, popularly known as ‘Bitcoin Jesus’. Ver currently possesses approximately 335,000 bitcoins. He has invested in various crypto projects, including Ripple, bitcoinstore.com, and Kraken, among others, over several years. Ver, a multi-millionaire Bitcoin advocate, has been actively involved with the king coin since early 2011, often regarding it as one of the most significant inventions in human history.
Corporate Bitcoin Whales
Coinbase, one of the largest centralized cryptocurrency exchanges, holds an impressive 2 million bitcoins, valued at $53 billion as of May 18, 2023. Additionally, Brian Armstrong, the CEO of Coinbase, owns a 19 percent stake in the company, making him a substantial Bitcoin whale in his own right.
Binance, the world’s leading cryptocurrency exchange in terms of trading volume, also stands as a significant Bitcoin whale in the market. The Binance wallet holds 248,597 bitcoins, with a value exceeding $6 billion at current prices. This figure represents almost 1.3 percent of Bitcoin’s circulating supply.
Microstrategy, an analytics software company, reportedly possesses 140,000 bitcoins. CEO Michael J. Saylor, a prominent crypto influencer, privately holds an additional 17,732 bitcoins. In their Q1 2023 report, the company disclosed a net income of $94 million and revealed the purchase of an extra 7,500 bitcoins. The 140,000 bitcoins were collectively acquired at an average cost of approximately $29,800, as indicated in the Q1 2023 report. Based on present market prices, Microstrategy’s Bitcoin holdings are valued at $3.7 billion.
Government Bitcoin Holdings
Bulgaria, a European country, reportedly holds 213,000 bitcoins seized by local authorities from a criminal group in 2017. During the seizure, the bitcoins were valued at around $500, but today their worth has surpassed $5 billion. However, the country’s plans regarding its BTC holdings remain unclear.
As of March 25, 2023, the US government possesses 205,515 confiscated bitcoins, valued at $5.6 billion. This amounts to approximately 1.06 percent of the circulating supply of bitcoins. On March 9, Glassnode’s on-chain data revealed that about 9,860 bitcoins were transferred to Coinbase addresses. The US government’s bitcoin stockpile has accumulated through various seizures, including those related to the Silk Road, the Bitfinex hack, and the James Zhong case involving illicit Silk Road transactions.
El Salvador, a Central American country, created history by becoming the first nation to adopt Bitcoin as legal tender in September 2021. The country has consistently purchased Bitcoin at regular intervals, even during market downturns. As of June 2022, President Nayib Bukele announced via Twitter that El Salvador currently holds approximately 2,301 bitcoins, which, at current market prices, are valued at around $61.6 million.
These notable Bitcoin whales represent a diverse array of individuals, institutions, and governments, all wielding significant influence within the Bitcoin market. Their actions and holdings continue to shape the dynamics of the cryptocurrency landscape, attracting attention and curiosity from market participants worldwide.
