10 holders own nearly 6% of circulating Bitcoins (BTC). That has emerged from the latest tradingplatforms.com’s data presentation of the crypto’s distribution over the past month. The form indicated that the 10 held 5.59% of all BTC on 20th March 2022.
“This statistic is important to any BTC investor,” said tradingplatforms.com‘s Edith Reads. She added, ” It’s important to know who holds sway within the BTC ecosystem and by how much. That’s because players with significant holdings may influence BTC prices.”
At the time of writing, there were 18.988 million BTC circulating. Therefore, considering tradingplatforms.com‘s data, the 10 held slightly over 1M BTC. That holding works to roughly $41B using the current BTC/USD exchange rate.
BTC whales influence over its price
Analysts hold that Bitcoin’s value would drop substantially if top holders begin selling their coins. But if they hold on to the asset, they enhance its stability, thus ensuring its long-term growth. Edith has emphasized that much too.
To her, BTC whales have a lot to gain by hodling rather than disposing of it. She suggests that the promise of future price gains makes it advantageous to hold the crypto longer.
BTC rich list
Available data shows that wallet address 34xp4vRoCGJym3xR7yCVPFHoCNxv4T
Some other four addresses held between 116K-168K BTC. These account for between 0.56% and 0.80% of the crypto’s supply. The rest hold anything from the minutest fractions of the coin to 94,643 BTC.
The full story and statistics can be found here: 6% of all BTC in circulation are in the hands of 10 holders