Bitcoin’s (BTC) whale count hit a new all-time high during last week’s price spike. On October 20 they did 2,178 Bitcoin addresses containing at least 1,000 BTC. By October 25, this number had increased to 2,231. At current prices, 1,000 BTC translates to around $ 13 million.
Based on these data, we can assume that whales they control at least 2.23 million Bitcoins, a significant figure equal to 12% of the supply in circulation today.
According to data from BitcoinCharts, these directions of whales actually control a much larger amount of them 7,902,469 BTC, which is 42% of the total supply of the coin. Although we know the number of whale addresses, we don’t know exactly how many individuals or entities control them. Multiple addresses could be controlled by a single entity, or similarly an address could be controlled by multiple parties with a multi-signature wallet.
Investigators claim that around 1.1 billion BTC is / was controlled by the original miner and Bitcoin creator, Satoshi Nakamoto. The vast majority of the coins allegedly owned by Nakamoto have never been moved.
We can also observe an increase in the pattern of “hodling”, in the percentage of Bitcoin’s supply that hasn’t moved in some time. 62% of the offering hasn’t seen action in at least 1 year, and nearly a third of that percentage hasn’t changed direction in 3 years or more.
Although Bitcoin has seen its biggest weekly close since 2018 in the past week, most of the The whales and the HODLers seem in no hurry to dispose of their possessions.