Who owns the most Bitcoin, and what is a Bitcoin whale? Herman Melville’s Moby Dick might have had an obsession with one giant whale, but when it comes to the Bitcoin whales, there are several to keep your eye on. With Bitcoin’s price steadily rising over the years, you don’t have to own much in order to be a Bitcoin millionaire. But does that make you a Bitcoin whale? Who are the whales? Keep reading to learn more!
What Is A Bitcoin Whale?
A Bitcoin whale is simply a person who currently holds a significant amount of Bitcoin. The amount a whale owns must be enough to have the power to influence the market if they choose to buy, sell or reallocate. Aquatic whales have a huge impact on the space they are in, by eating krill or even just swimming through. Bitcoin whales are no exception, as the top 100 Bitcoin wallets hold 18% of all Bitcoin. Making any moves with that amount of Bitcoin’s total circulating supply is sure to make some waves in the market.
Bitcoin and cryptocurrency are rapidly rising in popularity. It is important to be aware of who is spreading their wealth with Bitcoin, and what their tactics are for doing so. With only 21 million total Bitcoin available to mine, and 83% already mined, it is quickly becoming a limited asset.
How Can We Know Who Owns the Most Bitcoin?
The blockchain records all Bitcoin transactions. This digital ledger keeps track of all current Bitcoin in circulation, and more importantly, who it is all going to. The blockchain is mostly anonymous. Each user associates with an identifying address code, rather than their name.
The ledger shows how much each address owns, but does not give much information as to who owns it. However, with one notable exception, many Bitcoin whales are vocal about cryptocurrency value, making it easier to figure out who is who. Once you pinpoint a name to a Bitcoin wallet, it is easy to track how much Bitcoin they own.
Who Owns The Most Bitcoin?
Here are four of the rumored biggest Bitcoin whales as of November 2021. Please note that this looks at individuals and not companies or corporations that also own a substantial amount of Bitcoin.
It comes as a surprise to no one that the man who created the Bitcoin is at the top of the list with approximately one million Bitcoin. Satoshi has remained silent since he left the Bitcoin community abruptly in 2011. Most people assume that Satoshi prefers to maintain an extremely high level of privacy. Satoshi may be a pseudonym for a group of people, or he may go by a different name entirely. As the rumored owner of approximately 5% (currently valued at $52.7 billion!) of all Bitcoin, it’s no wonder the mysterious figure is at the top of this list.
Micree Zhan is the Co-Founder of the Bitcoin mining company, Bitmain Technologies. Zhan is rumored to own the second largest wealth of Bitcoin. Zhan currently lives in Beijing.
With an estimated net worth of $3.2 Billion, Zhan is the richest identified cryptocurrency billionaire in the world, and the 9th richest self-made billionaire under the age of 40. Jihan Wu, Zhan’s former business partner, is credited with being the first person to translate the inaugural Bitcoin white-paper by Satoshi into Mandarin.
Chris Larsen is one of the early trailblazers of cryptocurrency. Founder and former CEO of Ripple, Larsen is the second confirmed wealthiest Bitcoin billionaire. Despite his recent criticisms of the cryptocurrency industry, Larsen is estimated to be the wealthiest person to build his entire fortune on crypto. His net worth is estimated to be over $6 billion.
When you found one of the largest cryptocurrencies exchanges in the world, it would make sense that you are also one of the leaders in the Bitcoin space. Changpeng Zhao founded Binance in 2017 after spending years working on Wall Street. Zhao has a large online presence, and has become popular for it.
Zhao continues to be a thought leader in the crypto world, with his own cryptocurrency now the third largest. Zhao’s net worth is estimated to be around $1.9 billion, almost all of which from cryptocurrencies, primarily Bitcoin.
How Much Bitcoin Do You Need to Become a Bitcoin Whale?
As stated earlier, to become a Bitcoin whale, you need to hold enough Bitcoin to be able to move the market when you buy, sell or reallocate your funds. While it isn’t possible to give an exact number, there is a way to understand where that threshold generally lies. If we follow the Pareto Principle, then roughly the top 20% of the Bitcoin wallets would control 80% of circulating Bitcoin. And to have the greatest impact, you would need to be in that top 20%. In order to be in that threshold and be considered a Bitcoin Whale, you would need to hold approximately 100 Bitcoin (roughly $4 million USD).
Becoming A Bitcoin Whale
We all dream of seeing the great white whale. But isn’t it always better to be the one others try to catch up to? Just like Moby Dick, these whales are intimidating to behold and cause many people to dream of becoming one. These four individuals are most likely who owns the most Bitcoin, but will they remain that way?
Newer cryptocurrencies have begun to grow extremely fast. With this growth, we can expect a shift in the tides that may see some of these whales dethroned for owners of newer types of cryptocurrencies.
Now it’s your turn! Work towards becoming a Bitcoin whale by converting your cash into Bitcoin and begin building your wallet today!
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