A hundred so-called «whales», that is, the largest owners of crypto-currency, successfully took advantage of the fluctuations in the rate. According to data collected by Bitinfocharts.com, most of the 100 richest bitcoins did not lose their assets during the last crash. On the contrary, their shares have increased exponentially.
For example, the largest address contains more than 167,000 BTC (at the time of publication). The address began collecting bitcoins about two years ago, and the first deposit was about $ 840 at the current rate. Currently, the wallet contains $ 1.4 billion. The largest revenues were recorded during the major crashes. Throughout 2017 there were six major corrections, in which bitcoin lost about 30% of the cost. Just in these periods, the largest deposits were made.
The same picture is typical for other large addresses. Many of them sold thousands of bitcoins from November to December 2017. The community constantly monitors «whales», and often on forums or on Twitter you can see messages about the movement of assets at their addresses. For example, on November 12, 2017, when the bitcoine rate reached a new price high, observers observed that 25,000 bitcoins were sent to the Bitfinex stock exchange from the purse of the notorious Roger Vera.
Many media outlets suggest that 1000 addresses own 40% of the market. Some believe that «whales» know each other and this leads to great speculation in the market. Kyle Samani, managing partner of Multicoin Capital, supports this theory and says:
I think that there are several hundred guys who can call each other. And they, most likely, and do.
Nevertheless, a study published last fall disproves the assumption that 1,000 people have 40% of all bitcoins. According to the data collected by Bambou Club, many models of the distribution of bitcoins, analyzing wallets and addresses, do not stand up to criticism. Bambou Club draws attention to the fact that most assessments can not determine the relationship between the owner, wallet and address. The report says that this is not necessarily a ratio of 1: 1: 1:
One person can have a lot of wallets. And the purse can use a lot of bitcoins (for the sake of anonymity it is desirable to generate a new address each time you use your wallet).
Using another method of data collection, Bambou Club concluded that there are more than 25 million bitcoins owners, and 0.153 BTC is enough to enter the 30% of the richest. Moreover, you only need 15 bitcoins to enter 1% of the rich.
We do not know if the «whales» work together to speculate at the cost of the bitcoin course. But we know that during periods of various market fluctuations and especially during the period of the fall of the exchange rate by almost 70%, many of them became even larger players.