Can the Whales of Bitcoin Tank the Market?

October 10, 2018

Via: Fortune

In the world of Bitcoin, mysterious “whales”—individuals who own large hoards of the digital currency—have long been a source of speculation and anxiety. Now, new research sheds light on the identity of the whales and their impact on the market.

A study by the crypto forensics firm Chainalysis examined the 32 biggest whales, who together hold a little more than 1 million of the approximately 17 million Bitcoins mined to date. The smallest whale in the sample holds around 12,000 Bitcoins while the biggest holds more than 85,000 Bitcoins—respectively worth $75 million and $541 million at recent prices.

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