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Bitcoin “Whale” Number at 3-Year Peak

by Financial Economy

The number of those who own bitcoin in a thousand and over climbed to a three-year high with 1,882

The number of investors with a thousand or more Bitcoins in their wallets, dubbed “the whale,” climbed to a three-year peak with 1,882, up from 1,650 in January.

In what can be described as the “Deep State” of the Bitcoin community, the whales have the ability to influence prices up and down.

The number of investors holding large amounts of Bitcoin in their portfolio is nearing levels in September 2017, when its price saw an all-time high approaching $ 20k, according to a new market report released by Glassnode.

The number of whales had first reached levels close to that in March 2016, when Bitcoin was trading below $ 420, according to the analysis company’s report released on June 15. Then the number of whales saw two thousand.

The report said: “the price of Bitcoin is now more than twenty times that compared to when we first saw this much whale. This suggests that the (total) fortunes of whales are increasing. However, the average amount held by each whale declined during this period. So the whales actually hold less Bitcoin compared to 2016 and have less wealth in US dollars compared to 2017.”the statement said.

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