Cryptocurrencies
Bitcoin Whales Consolidation May Mean More Turbulence Ahead
- Big holders control more Bitcoin than in 2017, researcher says
- Concentration leaves owners vulnerable to wild price swings
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A closer look at Bitcoin holdings data shows a potentially troubling trend among the anonymous accounts -- increased consolidation among large owners.
Investors with 1,000 to 1 million Bitcoins that are often referred to as whales hold 42.1% of all Bitcoin supply, up from 37.9% during the height of the speculative bubble two years ago, according data from researcher Coin Metrics.