Don’t we all know Bitcoin, the king of cryptocurrencies? It is the largest cryptocurrency by market capitalization. In the vast ocean of cryptocurrencies, there was a giant whale that had amassed a significant amount of Bitcoin. Let’s see who they are!
Who are the Bitcoin whales?
Total BTC circulating supply is limited. This means that the circulating supply is approximately 19.5 million BTC and the maximum supply is 21 million BTC. Many investors want to know about Bitcoin whales and who owns large amounts of them. Crypto whales are individuals or organizations that own the largest amount of cryptocurrency. The importance of Bitcoin whales is important because they can have a significant impact on the price of certain cryptocurrencies.
Bitcoin whales are important for the following reasons:
- Tracking whales helps you infer price trends.
- Guessing what the “whale” will do is a way to second-guess the direction of the market.
- This is essential for BTC liquidity as it helps ensure that you can easily buy or sell Bitcoin without any noticeable price fluctuations.
- Top Bitcoin holders deepen the market by placing significant buy and sell orders, providing more trading options and reducing price volatility.
So who will own the most Bitcoin in 2024?
Who will own the most BTC in 2024?
Public Enterprises:
The Bitcoin ecosystem receives significant contributions from public enterprises. Their holdings influence stock performance and the broader cryptocurrency space. So let’s see who they are.
- Micro Strategy, a business intelligence company, tops the list with 189,150 BTC! This represents 0.901% of the total 21 million Bitcoins that will ever exist.
- Tesla Inc. is second on the list! The electric car company holds 10,725 BTC, worth about $471.54 million. Tesla’s stock price is greatly affected by Bitcoin price fluctuations.
- Coinbase Global Inc. is a cryptocurrency exchange that holds 9,000 BTC worth $395.7 million. The company’s stock performance is closely tied to the state of the cryptocurrency market, with BTC price being a key driver!
- Galaxy Digital Holdings, a digital asset and blockchain-based commercial bank, holds 8,100 BTC, equivalent to approximately $356.13 million.
- Block Inc. is a financial services and mobile payments company that holds 8.027 BTC worth $352.92 million.
This demonstrates wider acceptance among institutions in terms of cryptocurrencies. This trend shows growing confidence in Bitcoin as an asset class.
| company | Number of BTC | value |
| MicroStrategy | 189,150 | $8,316,269,150 |
| Tesla, Inc | 10,725 | $471,541,034 |
| Coinbase Global, Inc | 9,000 | $395,698,770 |
| Block Co., Ltd. | 8,027 | $352,919,336 |
| Bitcoin Group SE | 3,830 | $168,391,810 |
| Voyager Digital LTD | 2,287 | $100,551,454 |
| Nexon Co., Ltd. | 1,717 | $75,490,532 |
Private companies:
The adoption of BTC by private companies demonstrates a strategic shift towards digital assets. These investments are primarily driven by a variety of factors, such as confidence in the long-term value of Bitcoin, its potential as a hedge against inflation, and the desire to be part of the fast-growing digital economy.
- Mt. Gox, a major Bitcoin exchange, currently holds approximately 200,000 BTC worth approximately $8.79 billion. These reserves account for 0.952% of the total Bitcoin supply. Mt. Gox’s Bitcoin holdings are largely due to its historical operational activities and has been the center of legal and financial discussions since its infamous hack and subsequent bankruptcy.
- Second, Block.one, a software company specializing in high-performance blockchain technology, holds 140,000 BTC worth approximately $6.16 billion, accounting for 0.667% of the total Bitcoin supply.
- Tether Holdings Ltd. holds 55,000 BTC, equivalent to approximately $2.42 billion, or 0.262% of the total supply.
- The Tezos Foundation holds 17,500 BTC worth approximately $769.41 million, or 0.083% of the total Bitcoin supply.
- Stone Ridge Holdings Group, an asset management company focused on alternative investments, holds 10,000 BTC worth approximately $439.67 million, representing 0.048% of the total supply of Bitcoin. Investing in Bitcoin is part of a key strategy to diversify your portfolio.
| company | Number of BTC | value |
| Mt Gox | 2,00,000 | $8.79 billion |
| Block One | 140,000 | $6.16 billion |
| Tether Holdings | 55,000 | 2.42 billion dollars |
| Tezos Foundation | 17,500 | $769.41 million |
| Stone Ridge Holdings Group | 10,000 | $439.67 million |
Mining company:
They play an important role in the BTC world in terms of network security and create market influence through their Bitcoin reserves.
Let’s take a look at the best mining companies holding Bitcoin in 2024.
| company | Number of BTC | value |
| Marathon Digital Holdings Ltd. | 15,174 | $667.15 million |
| Hut 8 Ltd | 9,129 | $401.37 million |
| Riot Platforms Inc | 7,362 | $323.68 million |
| Cleanspark Co., Ltd. | 3,002 | $131.98 million |
| HIVE digital technology | 1,707 | $75.05 million |
The link between mining activity and reserve accumulation is a balancing phenomenon. On the one hand, mining companies must sell a portion of the bitcoins mined to cover operating costs, including electricity, hardware maintenance, and expansion. On the other hand, holding mined Bitcoin can be seen as a sign of faith in the future value of the cryptocurrency. This strategy not only affects the supply side of Bitcoin, but also reflects miners’ perspectives on market trends.
Moreover, these holdings play an important role in the security of the Bitcoin network. By reinvesting their profits into expanding their mining operations, these companies help maintain high hash rates, which are critical to network security and operations.
final thoughts
Through significant holdings and strategic investments, institutions have highlighted the growing integration of Bitcoin with traditional financial methods. Looking to the future, the collective influence of these entities holding BTC will certainly propel Bitcoin’s trajectory toward greater institutionalization and mainstream acceptance.
This points to a future in which Bitcoin’s role expands beyond a speculative asset to become a fundamental component of various portfolios. Institutional accumulation of BTC also points to a future in which Bitcoin coexists with traditional frameworks, offering a broader repertoire of investment opportunities and risk management strategies.