With the price of bitcoin (BTC) on the rise, Bitcoin whales are becoming a lot wealthier.
Posted March 21, 2024 at 2:04 pm EST.
With pseudonymous Bitcoin creator Satoshi Nakamoto hitting the top 25 on the Forbes list of the world’s richest people, you may be curious to know which individuals and companies own the most bitcoin in the world. Read on to find out!
Who Owns the Most Bitcoin in the World?
Bitcoin’s pseudonymity makes it nearly impossible to track a person’s or individual’s identity behind a crypto wallet. However, some notable holders have come into the spotlight.
Based on blockchain analysis of BTC held in Bitcoin wallets, as of March 12, 2024, more than 2,000 wallets held over 1,000 BTC.
The Bitcoin community refers to these large holders as Bitcoin whales.
Bitcoin whales are people or organizations that own significant amounts of BTC and can typically influence price movements with a single trade. An individual or group holding a minimum of 1,000 BTC in their wallet is considered a whale.
Let’s take a look at the largest known holders of BTC.
Top 3 Individual Bitcoin Whales
The following are prominent individual whales holding bitcoin.
Satoshi Nakamoto
Satoshi Nakamoto holds the largest known amount. Satoshi amassed a fortune of 1.1 million BTC spread across roughly 22,000 Bitcoin wallets. These accumulated holdings stemmed from their mining activities during Bitcoin’s early days and represent around five percent of the total coin supply.
Winklevoss Twins
Cameron and Tyler Winklevoss are renowned as innovators and influencers in the crypto industry. In 2013, the twins announced the purchase of 1 percent of the total supply of bitcoin. The twin co-founders of the crypto exchange Gemini hold an estimated 70,000 BTC in their wallets.
Tim Draper
Tim Draper is a famous venture capitalist and early Bitcoin investor. In 2014, he made headlines when he purchased 29,500 BTC, which solidified his position as a whale. Interestingly, the Bitcoin he acquired was part of holdings confiscated from the Silk Road dark web marketplace.
Largest Institutional Whales
Bitcoin’s long-term viability and potential for high returns on investment have led several organizations to add BTC to their balance sheets. Here are some of the institutional whales that have accumulated digital currency.
MicroStrategy
MicroStrategy, a business intelligence provider, holds 205,000 BTC, worth billions of dollars. In February 2024, it purchased 12,000 BTC, its second-largest purchase since starting to accumulate BTC in 2020.
Marathon Digital Holdings
Marathon Digital Holdings, a large Bitcoin mining company, holds 16,930 BTC worth millions of dollars. The company sold 1,500 BTC in 2023 to cover production costs.
Tesla
Tesla Inc., an electric vehicle manufacturer, holds 9,720 BTC as of 2024. The company has sold over 33,000 BTC since its initial acquisition in February 2021.
Mt. Gox
Mt. Gox is a former crypto exchange that went bankrupt after the theft of over 800,000 BTC. The exchange managed to recover 200,000 BTC, which is held by the Trustee and will be distributed to creditors.
Block.one
Block.one is a blockchain software company that holds 8,027 BTC. The company was famously behind the EOS ICO, which raised $4 billion in 2017.
The Bottom Line
Bitcoin ownership is diverse and encompasses individuals, corporations, and large financial institutions. Early adopters and large companies led by Bitcoin believers have managed to amass substantial holdings, giving them whale status.
With bitcoin’s price on the rise, it will be interesting to see how many more Bitcoin whales make it onto Forbes’ rich list.
