So you wanna be a Bitcoin whale? The amount of BTC you need to influence the markets in the future could be drastically smaller than today.
A Bitcoin Whale Moves $1Bn (94,504 BTC)
10 days ago, a Bitcoin whale (yes, the mother of all Bitcoin whales) moved $1 billion of BTC in just one transaction.
Understandably, that amount of bitcoin on the move from the largest non-exchange address triggered a wave of speculation–from Bakkt warehousing to a massive incoming dump.
Whatever the reasons, you have to admit, moving that much money in one whale tail swipe is pretty awesome… And a little bit scary.
Ummmm that’s a billion dollars. pic.twitter.com/iRTlcRmd4K
— Houden 🔥 (@BitHouden) September 6, 2019
Bitcoin whales have the power to move the markets. As per research conducted by Diar this time last year, more than 55% of the world’s circulating supply of Bitcoin was controlled by less than 1% of all BTC wallets.
That means that a very small amount of people have a very large influence on what happens to BTC’s price.
But as one user pointed out on Reddit earlier, the number of bitcoins needed to be a BTC whale may change significantly over time.
How Many Bitcoins Make a Whale?
The Reddit user wrote:
10 years ago if you had 10,000 Bitcoin you’re not a whale. You’re merely a pizza eater. Today I believe hodling 1,000 BTC (maybe even less?) would make you a whale. Is there a future ahead where 100 BTC qualifies you as a whale? 10 BTC? Even one single coin?
It’s certainly an interesting question which,