The new DEFI platform enters the market! Earn passively - token sale 0.25 $ I'm going in!

Bitcoin whales - who are they and how can they manipulate BTC price?

4 min reading

Whales - the biggest Bitcoin investors on the market, have a significant influence on the price movements of this crypto. Although little is known about this group until today, their identity can be speculated on. The role they play in the digital gold ecosystem is enormous.

btc whales who are they

Bitcoin whales - who is one of them?

Although opinions on what aspects need to be met to qualify as Bitcoin whales vary, it seems that the most sensible solution would be to identify the 100 cryptocurrency portfolios that have the largest amount of Bitcoins (excluding those that belong to stock exchanges and cryptocurrencies platforms).

Due to the nature of the cryptocurrency market and the anonymity associated with the portfolios to which Bitcoins are assigned, it is difficult to judge to whom the addresses with the largest amounts of BTC belong. However, media reports allow speculation on who could qualify for the group of big fishes.

Here are the 10 institutions and people who may hold the largest amounts of BTC

  • Barry Silbert - founder and CEO of Digital Currency Group. According to Forbes reports, his cryptographic resources could be worth $500 million in January 2018.
  • Tim Draper - founder of Draper Associates. In 2014 he bought 29 656 Bitcoins.
  • Michael Novogratz - founder and CEO of Galaxy Digital. He invested a significant part of his fortune in BTC. In January last year he had assets worth one billion dollars.
  • Tyler and Cameron Winklevoss - co-founders of the Gemini Crypto Exchange. In 2011 they reportedly acquired Bitcoins for $11 million. At that time, one BTC was only worth $120.
  • Blockchain Capital - an investment fund and venture capital company. It invested in startups related to the crypto industry and in numerous cryptocurrencies.
  • Brock Pierce - co-founder of Blockchain Capital and Apparently, he accumulated a billion-dollar cryptocurrencies, but he did not invest exclusively in Bitcoin.
  • Matthiew Roszak - founder of Tally Capital investment fund. It is reported that he has cryptocurrencies portfolios worth between 900 million and one billion dollars.
  • Changpeng Zhao - CEO and founder of the Binance crypto exchange. He has accumulated a fortune of between $1.1 billion and $2 billion. Although much of this amount can be kept in Binance Coin, he probably also invested in Bitcoin.
  • Roger Ver, also known as Bitcoin Jesus. Although he is mainly associated with Bitcoin Cash, he is said to have owned about 400 thousand BTC in 2014.
  • Brian Armstrong - CEO and founder of Coinbase. In January 2018 he had one billion dollars in cryptocurrencies

The list presented is certainly not complete. However, the selected individuals may be among the largest market players.

The impact on the market

Bitcoin whales are a very important part of the market. It is the mass movements of their coins that can have a huge impact on the price of BTC. This is how buying or selling trends are created. With this in mind, the big fish that decide to sell some of their Bitcoins can lead to a sharp drop in the price of cryptocurrency. As a result, many other investors start to panic selling out of their coins. The same dependence also occurs in the opposite situation. When large quantities of coins are purchased from the market, there are sudden increases in the price of Bitcoin. This in turn leads other players to buy it.

While many people suggest that large players only manipulate the market, in some cases the impact of their buying decisions was more positive than negative. For example, a report issued by Chainalysis revealed that owners of the 32 largest Bitcoin portfolios were trading in a herd, buying BTC at a price drop. In fact, the research indicates that already in 2011, the biggest market players were more responsible for Bitcoin's upward movements than its downward movements. This suggests that although whales have too much power over Bitcoin's price, a large part of them have long been trying to make this market successful.

Currency Exchange rate Buy cryptocurrency

Buy crypto now

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Lushup Holdings FZ LEE. Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is Lushup Holdings FZ LEE, Fujairah - Creative Tower, P.O.Box 4422 Fujairah, United Arabs Emirates.

The full document to read the Tokeneo privacy policy is available in this document.

Advanced settings can be changed in your browser.