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The richest Bitcoin addresses are accumulating

Photo of: Nathan VDH
by Nathan VDH

The soaring price of Bitcoin has made some investors, who have been in the cryptocurrency business for years like the Winklevoss twins, very happy. For 30 days, the most wealthy BTC addresses have been accumulating cryptocurrencies.

Would the Winklevoss twins be revengeful? They were suing Facebook and its founder, Mark Zuckerberg, accused of having stolen their idea of creating a social network. With a price tag of more than 40,000 dollars, Bitcoin’s capitalization now exceeded that of Facebook.

A victory that Cameron Winklevoss savored on Twitter. “It makes sense that a financial network is more valuable than a social network,” he writes. Zuckerberg, however, still weighs more than $90 billion, compared to $1.4 billion for the Winklevosses, according to Forbes.

The twins nevertheless belong to the very closed circle of fortunes in the world of cryptocurrencies. And this circle benefits first and foremost from the recent surge in the price of Bitcoin – and other crypto-actives.

But the best-stocked BTC addresses are not content to simply make their capital grow. On the contrary, they are very active on the exchanges in order to acquire even more Bitcoin.

According to BitInfoCharts data, the 100 richest addresses were accumulating 16% more BTCs in just 30 days. This represents an additional 334,000 Bitcoin worth close to one billion dollars.

Moreover, these crypto holders have a long-term perspective. Despite a sharp drop in the value of Bitcoin this week, only 7 of the 100 addresses were selling crypto. These fortunes are therefore betting on a further increase in assets.

As for price corrections and volatility, they are therefore an opportunity to acquire more Bitcoin at a preferential price. However, it should be remembered that not all of these addresses belong to individuals.

At least 10 belong to exchanges, including Huobi, Binance, Bittrex, and Kraken. In addition, there are institutional investors and wealthy individuals. These include Michael Saylor, MicroStrategy’s CEO.

According to Forbes, his fortune in cryptocurrencies is close to $600 million. This is a significant amount of capital for an investor who converted to Bitcoin only a few months ago. In the ranking, Saylor still appears far behind Winklevoss, Matthew Roszak and Tim Draper.

All can claim to be among the top Bitcoin addresses. Cointelegraph points out that to appear among the top 100, one must hold at least 336 million dollars in BTC. For the Top 10, it is more than 2 billion.