These 5 Bitcoin Whales Control More Than 96% of Circulation

Hodl doesn’t work very well for you and me.

To say that if I bought bitcoin in 2013, is the stupidest thought. You wouldn’t buy it if you had the chance. Let’s admit it.

Here is a painful truth. Many don’t want to believe or accept it, plus it’s the naked truth.

Of the 19 million bitcoins that are in circulation, 95.89% of bitcoin wallets control 3.47%. That is nothing.

You didn’t read it right.

4.11% of wallets control 96.53% of all bitcoins in circulation. That is power.

Of the 7.9 billion people in the world, 106 million people use cryptocurrencies.

Of the 106 million, less than 100 people control another 90% of all bitcoin in circulation.

This small portion of brave and adventurous digital gold already had the audacity back then.

Now it is almost impossible to get rich with bitcoin. It was easier to buy in 2010 and 2013 and hold it until the present day.

Here are the five richest Bitcoin investors.

1. Bulgaria

Yes, you read that right.

The country has been sitting on a pot of gold since law enforcement agencies launched a large-scale operation in May 2017 to dismantle an organized crime network.

Since then, more than 213,000 BTC belong to the state.

These bitcoins are enough to pay off a quarter of the national debt in one go.

So far, Bulgarian tax authorities have been busy with the coins. Efforts to sell the bitcoins on the market are not known.

2. Tim Draper

In 2014, Tim Draper bought 29,656 bitcoins seized by US Marshals from the Silk Road black market for $18.7 million, or just $632 per coin.

The venture capitalist and founder of Draper University has been sitting on a gold mine since facilitating tens of thousands of bitcoins from the US government in 2014.

3. Gavin Andresen

Gavin Andresen may not have invented Bitcoin, but he shaped it like no other.

Satoshi himself is said to have chosen the Bitcoin Foundation founder as his successor in 2010.

How many bitcoins the lead developer actually owns is not known.

Since the early days of the Bitcoin Foundation, it has been customary to pay salaries in bitcoin. The rest you can probably already imagine.

4. Satoshi Nakamoto

According to estimates, the author of the Bitcoin White Paper owns almost a million bitcoins.

At the height of the bull run, this would be equivalent to an impressive $19 billion. That would make one of the richest people in the world.

It cannot be assumed that Nakamoto will ever put his coins on the market. Because that would have fatal signal effects and an unprecedented price drop.

It is not known whether we will ever be able to clarify the identity of the author of the white paper.

5. The Winklevoss twins

The Winklevoss brothers are not only Bitcoin’s first billionaires but also true warriors.

After graduating from Harvard in 2004, they worked on their social media platform ConnectU.

It cannot be denied that Facebook founder Mr. Zuckerberg was inspired by the platform at the time; a court partially agreed with “Winklevii” and awarded the twins a $65 million severance payment.

Little by little, they invested in bitcoin. And with such devotion that Cameron and Tyler managed to accumulate a full percentage of the total BTC supply.

Published @ https://medium.datadriveninvestor.com/bitcoin-is-controlled-by-these-5-big-investors-crypto-enthusiasts-dont-want-to-admit-it-3cd119c9d11e