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Top 100 BTC Whales – 39 Might Have Lost the Billionaire Status
In the world of cryptocurrencies, bitcoin has always been the golden child. Its meteoric rise has made many overnight millionaires and even billionaires. However, as with all things volatile, the highs come with significant lows, lows that wiped out around $2 trillion (source: CNBC) since BTC peaked in 2021.
A lot of people jumped on the hype train in 2021 because of the FOMO and got rekt. To
analyze the aftermath of bitcoin’s 2021 peak price, we conducted a research around the Top 100 bitcoin wallets to see how much the richest in the crypto world have lost.
Once we analyzed the data, we found that the Top 100 Wallets held 196 Billion USD in 2021 (assuming their BTC holdings remained the same). Even if the BTC holdings changed over the past couple of years, it’s clearly evident that the Whales lost hundreds of billions of dollars altogether. Our estimate suggests a cumulative loss of a mind boggling
$118,408,420,053 by 2023.
📉 2021 vs. 2023:
- As of today (9th October 2023), 19.9% of all the bitcoin in circulation is being held by the Top 100 wallets.
- 2021: Out of the top 100 wallets, 57 were in billionaire status.
- 2023: A mere 18 out of the 100 can still claim the same title.
- During the all time peak season for BTC, the Top 100 wallets could have held
- 2023: The Top 100 are now hodling $77,975,998,947 in total BTC value, losing an estimated 118 Billion USD
Note: The figures presented in the analysis section are derived based on certain assumptions, chiefly that the BTC holdings in the Top 100 wallets remained static from 2021 to 2023.
While this assumption helps to provide a comparative insight into the potential shift in value, it’s important to acknowledge that actual BTC holdings may have varied during this period.
While the allure of quick riches is tempting, this research underscores the importance of
educating oneself about new technologies. It’s not just about jumping onto the bandwagon in hopes of a quick profit. Understanding the technology at heart, the potential risks, and the long-term prospects is crucial.
The whales might not have taken a huge hit from bitcoin’s price drop, but most people don’t have enough money to lose and then some. Remember, it’s not about getting rich quick; it’s about learning how the whole world can benefit from the technology that’s been developed.