- Market shapers are still the early adopters of Bitcoin.
- Interest in Bitcoin by the corporate and institutions is on the rise
- It means that a single holder’s behavior is capable of producing changes in the overall general perceptions of the market.
The evolution of this kind of currency is still ongoing, with Bitcoin as the most important and leading player in this revolution. A limited number of entities has accumulated a large proportion of Bitcoins, propping up as dominant agents in the Bitcoin economy. This article focuses on the five largest Bitcoin holders and their influence on the market.
The Enigmatic Satoshi Nakamoto
Satoshi Nakamoto the unknown creator of bitcoin is somewhat of an enigma in the world of cryptocurrency. Some reckon that Nakamoto possesses about 1 million bitcoins, all mined when he commanded the network. This large holding raised questions about what would happen to market prices should these coins trade.
The Winklevoss Twins: From Social Media to Crypto Royalty
The Winklevoss brothers, known for their involvement in the early days of Facebook, are now known for their major involvement in the world of cryptos. According to the Singapore media, the twins bought 1 percent of all bitcoins in circulation in 2013, an investment that has skyrocketed. They have adopted an investment strategy and have advocated for the use of cryptocurrencies and have made them an inspiring authority.
Changpeng Zhao: The Exchange Mogul
Changpeng Zhao, popularly known as CZ, is the creator of Binance, a leading cryptocurrency exchange company in the global market. The extent of his personal Bitcoin is still unknown, yet his control over Binance puts him in a powerful position in Bitcoin. CZ’s behavior and the way he speaks affect the rest of the cryptocurrency space.
Tim Draper: The Visionary Venture Capitalist
A venture capitalist with the necessary focus on innovative technologies, Tim Draper attracted a lot of attention in 2014 when he bought 29,600 bitcoins from the Silk Road marketplace. Draper’s sentiment towards Bitcoin has been specifically long-term bullish and has influenced other institutional investors to look at cryptocurrencies as a viable asset class.
Michael J. Saylor: The Corporate Convert
Michael J. Saylor, one of the founders of MicroStrategy, has been the most active in promoting Bitcoin in the last few years. MicroStrategy currently possesses a large amount of Bitcoin in its treasury as directed by CEO Saylor. Such a move has elicited debates on the use of Bitcoin by firms as a reserve currency.
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