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Bitcoin Whales’ Ownership Concentration Is Rising During Rally

  • About 2% of accounts control 95% of all Bitcoin, Flipside says
  • Concentration has increased since July as price jumped

A lot of theories have emerged on why Bitcoin has skyrocketed almost 60% in the past month, with most heralding widespread adoption by institutions and individuals.The fact remains that there’s nothing widespread about Bitcoin ownership.

A few large holders commonly referred to as whales continue to own most Bitcoin. About 2% of the anonymous ownership accounts that can be tracked on the cryptocurrency’s blockchain control 95% of the digital asset, according to researcher Flipside Crypto.