Friday, November 22, 2019

Who Owns Most Bitcoins?

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Adedamola Bada
I'm Damola, a computer engineer from Obafemi Awolowo University. A crypto enthusiast, marketer, and writer who is seeking to achieve career excellence through hard work and positive contribution to the organization that aspires for excellence. Contact me on [email protected]

Cryptocurrency has seen more adoption today than when it was first unveiled and as its success continues to grow, so does questions about it increase. Because Bitcoin (BTC) is often regarded as the king of cryptocurrency, one of such questions is “who owns most bitcoins?”

Coming up with a suitable answer to this question might be difficult because the ownership of Bitcoin doesn’t belong to a centralized body or organization. It has no connection to any government or person. Bitcoin was brought into existence by Satoshi Nakamoto, which might even be a group of people rather than an individual.

Bitcoin functions on the blockchain technology which makes it untraceable, meaning that each Bitcoin is uniquely designed for each owner. Bitcoin is anonymous and does not leave a paper trail in any transaction.

Bitcoin’s Big Players

Bitcoin has a certain number of individuals who hold major shares of the digital currency and here are some of them:

The Founder

The person or group that founded Bitcoin is known as Satoshi Nakamoto and reportedly owns about $4.7 billion worth of Bitcoin. This is just an estimate because the actual worth of Satoshi Nakamoto could either be lower or higher.

The Mining Farms in China

There is a significant number of miners in China, and through their mining pool, Bitcoin can be mined and circulated. These Bitcoin mining farms are estimated to control about 81 percent of the total Bitcoins in circulation. Antpool alone, a prominent mining farm in China, contributed about 20% of all mined Bitcoins between 2016 and 2017.

Federal Bureau of Investigations (FBI)

Another key owner of Bitcoin is the FBI. According to speculations, about 1.5 percent of the total Bitcoin in existence today is owned by the federal agency. Just like the mining pools located in China, FBI has a comparable operation ongoing though not as massive as the ones in China.

Satoshi Dice

This went down in history as the first large-scale acquisition of Bitcoin, and the purchase was 126,315 Bitcoins in 2013. In the market value of today, that acquisition is worth more than $277 million.

Bitcoin Investors

Bitcoin has a vast amount of followers all over the world, and some individuals have become wealthy through it. Some of these individuals have become so successful that their combined Bitcoin portfolios amount to a significant percentage of the collective Bitcoin in circulation. Some of the individuals are Roger Ver; who owns bitcoins worth about $52 million, Dave Carlson; with about $35 million Bitcoin value, and Charlie Shrem; having Bitcoin assets worth $45 million. Though these are some of the publicized Bitcoin Investors, it is possible that there are unknown individuals who own more Bitcoin than them.

Conclusion

Bitcoin has produced a list of millionaires from its early days right until now. Many more are expected to emerge along the way, and therefore it is never too late to begin your journey into the world of cryptocurrency. Bitcoin being an anonymous platform, makes it difficult to find out the real movers and shakers of the currency but perhaps sometime in the future, such knowledge will be made available for everyone.

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