Sea Creatures in the Bitcoin Ocean
Did you know that because the Blockchain is transparent, and all transactions are shown on the Public Ledger, we are able to know how much Bitcoin an address holds?
When it comes to Bitcoin ownership, the distribution of funds you hold in a Bitcoin address is defined by a list of Sea Creatures. So when you hear about “Bitcoin Whales doing this or that”, now you will understand who and what they are referring to.
Address Wallet Size (in BTC)
Humpback Whale: > 5,000
Whale: 1,000 - 5,000
Shark: 500 - 1,000
Dolphin: 100 - 500
Fish: 50 - 100
Octopus: 10- 50
Crab: 1- 10
Shrimp: < 1
Now, knowing which classification you or other Bitcoiners fall into, we can look a little deeper into what other types of information we can discover. Using the link below, we can see up to date information on the Bitcoin distribution.
Take a look here:
https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html
When you scroll lower down the page, you are also able to see how many BTC the Top Addresses hold. But, before you say “WOW, some rich person owns six figures of Bitcoin”, what we do and don’t know is:
3 of the top 4 wallets are publicly known to be owned by Crypto Exchanges. So they hold BTC to buy and sell on their exchange, as well as hold BTC for their customers.
There are Bitcoin Miners, Exchanges, Institutions, Funds, Trusts, Custodians, High Net Worth Individuals, etc that hold large sums in an address. Unless it is made public, we cannot distinguish them from one another. So, one address may hold BTC for several or thousands of individuals.
One person can have more than one address. For example, if you use several exchanges to buy BTC or you hold BTC in different wallets, you would have several addresses.
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