The crypto market has shown a remarkable recovery in 2023 after witnessing a setback in the latter part of 2022. Fuelled by the bullish sentiments in the market, Bitcoin’s year-to-date returns have surged over 150%. As the recovery goes on, top crypto holders have helped increase inflows into the market at a steady pace. Who own bitcoins and other crypto in large enough amounts to aid the crypto rally, you wonder?
In this article, we have crafted a list of the biggest crypto owners in the market. ‘Who owns the most bitcoins’ has been a recurring query in crypto circles, and we hope this post will clear any existing uncertainty!
Who owns the most bitcoins?
The following is a list of the biggest crypto owners:
Satoshi Nakamoto:
The creator of Bitcoin, Satoshi Nakamoto, is touted to be the biggest holder of Bitcoin. Nakamoto, whose identity is unknown, authored the famed white paper on Bitcoin in 2009 and initiated a new era for crypto.
Nakamoto owns more than 1 million BTC received in block rewards from mining more than 22,000 blocks in 2009. The value of the holding is worth more than $40 billion in December 2023, putting Nakamoto at the top of the list of the richest crypto investors. Therefore, Nakamoto is most likely the entity who owns the most bitcoins.
The Winklevoss Twins:
Tyler and Cameron Winklevoss shot to fame in 2008 after their dispute with Mark Zuckerberg, the founder of Facebook. The twins invested considerable sums in Bitcoin and became one of the biggest crypto holders. Eventually, the twins also founded a prominent crypto exchange.
The Winklevoss twins have further stated that their Ethereum holdings are on par with their BTC holdings; it’s estimated that there’s a possibility that they own a significant percentage of all the ETH in circulation.
Michael Saylor:
The co-founder of MicroStrategy, Michael Saylor also features on the list of investors who own bitcoins. Saylor is a big believer in Bitcoin as an alternative investment asset class. Recently, he also expressed his opinions regarding the potential of the upcoming spot Bitcoin ETFs. His firm, MicroStrategy is one of the biggest crypto holders, with 174,530 BTC.
Tim Draper:
An American venture capitalist, Tim Draper is a big believer in Bitcoin. Being one of the earliest crypto advocates, Draper bought 30,000 BTC in 2014. Years later, the investor is still bullish on Bitcoin and expects it to surge further. Tim Draper has also invested in several crypto firms, reinforcing his belief in the future of crypto. For instance, Draper has diversified his crypto portfolio by making significant investments into Tezos.
Michael Novogratz:
The CEO of crypto investment firm Galaxy Digital, Michael Novogratz is one of the wealthiest crypto investors and an enthusiastic commentator on Bitcoin prices, along with being bullish on altcoins like Ethereum. His firm holds billions in assets under management, mainly focusing on crypto firms and digital assets. Moreover, Novogratz has recently made headlines for attempting to turn around distressed crypto assets.
Changpeng Zhao:
Binance’s Changpeng Zhao is one of the most famous personalities who own bitcoins, and his significant influence over the world of crypto is undeniable, even after he stepped down as the CEO of the well-known Binance. Zhao came to learn about Bitcoin after a poker game with his friends, and he even sold off his apartment to purchase Bitcoin back in 2014.
He continues to have a diverse portfolio in crypto as one of the top altcoin and Bitcoin holders.
Anonymous addresses in Crypto Exchanges and Wallets:
Apart from the known investors, many crypto exchanges and wallets also have anonymous investors who own bitcoins. Bitcoin whales, or those investors with 10,000 or more BTC, control a substantial portion of the total BTC supply; there are altcoins whales as well. For example, the Winklevoss twins are both Bitcoin and Ethereum whales.
Companies Owning Crypto:
Apart from individuals, multiple corporations have also forayed into crypto holdings. For instance, Tesla bought $1.5 billion worth of BTC in 2021, becoming one of the biggest investors who own bitcoins. Tesla also accepts Dogecoin as a mode of payment for some of its products.
Other companies and investment firms with significant stakes in crypto tokens include the Digital Currency Group, Tether Holdings, and Marathon Digital Holdings, among others.
Countries that are crypto owners:
Crypto adoption has expanded so massively in recent times that even countries have begun accumulating crypto tokens as investments. El Salvador, the most famous example in this case, has invested more than $120 million in Bitcoin since 2021. Nayib Bukele, the President of the country, has been a big supporter of crypto for years.
The way ahead for crypto owners
With growing bullish sentiments in the crypto market in 2023, several countries have sprung into action with favorable policies to help the crypto industry grow. A key US regulator recently published a report on the need for crypto regulations to safeguard crypto investors and firms, for example.
Therefore, with a potential pro-crypto future across the globe, the market could witness a further hike in the number of crypto investors. Retail investors could also hope for easier exposure to crypto assets with the spot crypto ETFs due in the US in 2024.
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