Bitcoin Whales Stockpiled 150 k BTC in the last Two Months

The Crypto winter was also a time for accumulating Bitcoins and Bitcoin whales -- in this case holders of 100 largest wallet addresses (those holding largest number of coins) including groups, companies and hedge fund trusts, have so far accumulated a total of 150,000 additional coins, or well over half a billion US dollars in the last two months.

This is excluding wallets belonging to crypto exchanges. The five largest wallets belong to Bittrex, Bitfinex, Bitstamp, Huobi, and Binance crypto exchanges and hold over 100,000 Bitcoin. These added a total of 2879 BTC, making a total holding of 573,958 BTC in the last two months.

Data from BitInfoCharts says after the largest five Bitcoin wallets, the next 100 hold 10,000-100,000 BTC and these accumulated over 150,000 BTC in the last two months. They now hold close to 2.29 million BTC. By yesterday, another 2 wallets had gotten into the list of those holding between 10,000-100,000 BTC making it to 102 wallets.

The largest amount of BTC or 4,316,546 BTC is held by 133835 wallet addresses holding between 10 - 100 balances while 1710 wallet addresses holding between 1000 - 10,000 hold a total of 4,316,546 BTC, the second largest amount for categories. However, 48.54% of addresses hold a total of 2,270 BTC according to the data.

The movement of Bitcoin by whales is becoming less and less related to price movements especially because of OTC trading, but it still affects prices the small size of the crypto market size of now less than 150 billion USD. That's because when a massive sell order is created, it may send the wrong signal that there is a huge demand. The same case happens when a major buy happens.

For instance, the latest unexplained drop in the price of Bitcoin that occurred last Sunday, which some have called price manipulation, may be due to the dumping of Bitcoin by whales.

David Kariuki

David Kariuki likes to regard himself as a freelance tech journalist who has written and writes widely about a variety of tech issues that affect our society daily, including cryptocurrencies (see and; climate change (, OpenSim and virtual reality (see He is currently pursuing a MSc in Environmental Management at Open University. He does write here not to offer any investment advise but with the intention of informing audience, and articles in here are of his own opinion. Anyone willing to use any opinion here as advise to invest in crypto should obviously take own responsibility and accountability of their losses (or benefits) thereof. You can reach me at [email protected] or [email protected]

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