On the financial front, traditional powerhouses like Grayscale, BlackRock, and Fidelity are diving into Bitcoin, earning them the moniker 'Bitcoin whales.' These heavyweights are injecting billions into the digital currency, holding a sizable chunk of the finite 21 million bitcoins available.
Out of the 19 million bitcoins currently in circulation, an estimated 3.5 million are lost, either due to forgotten digital wallet details or lingering criminal proceeds. Concerns arise over the 2.3 million bitcoins held by cryptocurrency exchanges, acting as crypto-banks, sparking debates about reliance on centralised systems.
Adding to the mystery are 'unknown whales,' individuals or entities owning over 10,000 bitcoins, accounting for roughly 8% of the total. The remaining 7% of bitcoins are yet to be mined, with the last one expected in 2140. Meanwhile, Satoshi Nakamoto, Bitcoin's enigmatic creator, sits on an estimated 1.1 million bitcoins, securing a spot among the world's wealthiest.
Regulated investment firms, given the green light by US financial authorities, are now in the game. Grayscale, BlackRock, and Fidelity collectively hold about 4.5% of all bitcoins, signalling a significant shift.
Law enforcement's involvement introduces another layer, with nearly 200,000 bitcoins awaiting auction from cyber-crime seizures. MicroStrategy and Tether emerge as noteworthy Bitcoin holders, with MicroStrategy leading as the single largest organisation owner, holding around 193,000 Bitcoins. Tether, recognized for its stablecoin, claims an estimated 67,000 bitcoins.
Publicly listed Bitcoin miners, including Marathon and Hut8, contribute significantly, holding around 40,000 bitcoins collectively. Well-known investors like the Winklevoss Twins, Tim Draper, and companies like Tesla and Block add further diversity to the landscape.
Approximately 10.5 million bitcoins are believed to be held by the general public, constituting roughly 50% of the existing supply. However, the actual number of individual Bitcoin owners remains a mystery.
Interestingly, the recent surge in Bitcoin's value is credited not to individual retail investors but to Bitcoin whales, including major banks. Analysts suggest that these influential entities are steering both the price and demand, reshaping the once peer-to-peer digital cash dynamics.
As big financial players gather more and more bitcoins, it's making us rethink what Bitcoin was supposed to be. Originally, it was all about being decentralised and not controlled by big institutions. Now, with these financial giants holding a lot of bitcoins, we're wondering where Bitcoin is headed and if it's staying true to its roots. The world of cryptocurrency is changing, and it's not just affecting digital money – it's making waves in a much bigger way.
