Crypto
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6 de ene de 2022

Who Owns the Most Bitcoin Now? (2022)

While there are many decentralized digital currencies that you can invest in, the most popular cryptocurrency at your disposal is Bitcoin (BTC). It currently has a market cap of $1.15 trillion, which has increased steadily since Bitcoin’s inception in 2009. Like all cryptocurrencies, the value attributed to Bitcoin can vary substantially based on numerous market factors.

Despite the volatility of Bitcoin and other types of cryptocurrencies, it’s important to understand that Bitcoin is currently the most valuable cryptocurrency on the market. 

This article offers an extensive look at how Bitcoin gets its value, who owns the most Bitcoin, and how people and companies are able to become Bitcoin billionaires.

What Gives Bitcoin Its Value?

If you’re thinking about investing in Bitcoin in the near future, you may be wondering what gives Bitcoin its value. Bitcoin is a form of digital currency that’s considered to be an alternative to fiat money, all of which is issued by the government. Since central banks control the amount of paper money is being printed, naturally, it gives central banks more control over the economy. In comparison, Bitcoin is operated by the decentralized authority on a decentralized network using blockchain technology, which is why it isn’t used regularly in retail transactions.

Even though Bitcoin isn’t widely used in the economy, it gets its value from many different factors. A comparison can be made between the value of gold and the value of Bitcoin. Both of these commodities have very specific use cases and are limited in quantity. Like precious metals, Bitcoin is durable. However, it is more “portable” than metal like gold, silver or platinum, more precisely divisible and, in some regards, safer. BTC is even referred to as “digital gold.”

Digital currencies like Bitcoin have value because they’re able to function as both a unit of exchange and a store of value. Bitcoin also displays six core attributes which allow it to be used in the economy:

  • Scarcity
  • Acceptability
  • Divisibility
  • Durability
  • Resistance to counterfeiting
  • Portability

Since Bitcoin qualifies as a form of currency, it’s able to retain a certain amount of value. One of the main reasons is the Bitcoin supply scarcity. In fact, the maximum number of bitcoins that can be mined is just under 21 million. This level of scarcity makes it possible for the value and market price of Bitcoin to increase by a considerable amount.

Who Owns the Most Bitcoin?

To understand exactly who owns the most Bitcoin, it’s important to know how much Bitcoin can be introduced into the market. When Bitcoin was first created in 2009, a hard cap of nearly 21 million was placed on the amount of bitcoins that could enter circulation. At the moment, the circulating Bitcoin supply is around 18.8 million. Limits have been placed on how much Bitcoin can be created each day, which means that the remaining Bitcoin will be mined progressively more slowly from now until 2140 through the process of “halving.”

Even though 18.8 million bitcoin should be on the market, it’s believed that around four million BTC have been lost since the digital currency first entered circulation. It’s believed that Satoshi Nakamoto, the pseudonymous founder of Bitcoin, was the first miner of the currency. Nakamoto mined over 22,000 blocks, and received well over one million bitcoins as cumulative block rewards. His (her/their) current ownership is believed to be around 1,000,000 BTC, which has a current value of more than $4,500,000,000 with a value of $45,000 per BTC.

Bitcoin ownership can be identified by looking at the addresses of bitcoins in circulation. As of today, there are just three separate Bitcoin addresses that hold more than 100,000 BTC. There are additional 83 owners who hold anywhere from 10,000–100,000 BTC. The 87 wealthiest addresses hold a little over 14% of all the total Bitcoin in circulation.

Richest Bitcoin wallet addresses
CC: bitinfocharts.com

How Many Bitcoins Do You Need to Be a Billionaire?

Given that Bitcoin price fluctuates daily and it’s volatile, it’s difficult to identify exactly how many bitcoins someone needs in order to be a billionaire. However, the current value of Bitcoin can be used to calculate how many you’d need to possess. Using a value of around $47,000 per Bitcoin, an individual or entity would need to own more than 21,000 BTC to be a billionaire.

Who Are the Bitcoin Billionaires?

If you include Satoshi Nakamoto, there are currently four addresses which hold enough Bitcoin for their owners to be considered Bitcoin billionaires. With more than 1,000,000 BTC, Nakamoto — who may be an individual or a group — owns more Bitcoin than any other entity. The four remaining billionaires are estimated to hold around 672,000 BTC altogether. Each individual address is comprised of more than 100,000 BTC and up to over 250,000 BTC. These addresses are mainly located at two crypto exchanges (Bitfinex and Binance), with the third and fourth at an unknown location.

These addresses are:

Wallet Addresses

34xp4vRoCGJym3xR7yCVPFHoCNxv4Twseo: 265,480 BTC

Bc1qgdjqv0av3q56jvd82tkdjpy7gdp9ut8tlqmgrpmv24sq90ecnvqqjwvw97: 168,010 BTC

1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ: 121,397 BTC

3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb: 116,601 BTC

Institutional Investors

There are a wide range of different entities that have invested in Bitcoin, including individual investors, investment firms and public companies. Some investors choose to place their money directly into Bitcoin by purchasing the currency on a cryptocurrency exchange. However, it’s also possible to invest in a portfolio that contains a wide range of Bitcoin-related assets. There are companies who invest in Bitcoin, and even an increasing number of exchange-traded funds (ETFs) which invest in BTC. For example, Grayscale Bitcoin Trust (GBTC) the largest bitcoin ETF owns approximately 654,600 BTC or nearly 3.2% of the total supply.

Public and Private Companies

While individual investors own a considerable amount of Bitcoin, this digital currency also has public and private companies among its supporters. It’s possible for companies to invest in Bitcoin with their corporate savings, which are generally referred to as treasuries. This strategy is utilized by such companies and investment firms as Digital Currency Group, Tesla and MicroStrategy. Certain companies have selected to invest in Bitcoin and other digital assets as a method of protecting against negative-yield bonds and inflation.

Public companies currently own over 216,000 BTC altogether, which amounts to 1.029% of the Bitcoin supply. More than 200,000 bitcoins are owned by ten companies. However, nearly 50% of Bitcoin owned by public companies is held by MicroStrategy. This company purchased Bitcoin via bond offerings and their corporate treasury. The bonds that MicroStrategy purchased have low-interest rates, and can be redeemed for fiat or equity. Meanwhile, Tesla owns nearly 43,000 Bitcoin.

When looking specifically at private companies, these own just over 174,000 BTC, which represents 0.829% of Bitcoin supply. The most notable private owner of this cryptocurrency is Block.one, a Chinese corporation with around 140,000 BTC.

Government Holdings

Various governments also hold an extensive amount of Bitcoin. At the moment, governments all over the world collectively own around 260,000 BTC, which is 1.237% of the total supply. Bulgaria alone is believed to hold over 213,000 BTC. The U.S. government obtained Bitcoin from Silk Road in 2013, but eventually sold it in 2015. If the U.S. government had held onto the currency, it would now be worth billions of dollars. However, each coin was sold for $334.

What Does It Mean for Institutions to Own So Much Bitcoin?

In general, institutions owning a sizable percentage of Bitcoin isn’t a substantial problem in itself. When institutions such as Tesla invest in Bitcoin, the use of BTC becomes more widely accepted. In fact, it’s possible that more and more institutions investing in Bitcoin will eventually increase its adoption as a standard currency — with fewer limitations.

How to Get Bitcoin on Bybit

Obtaining Bitcoin on Bybit is simple and straightforward. Once you’ve created an account on Bybit, you can choose to purchase Bitcoin with one of the major fiat currencies, of which there are more than 50 fiat currencies to choose from. The process involves these four steps:

  • Log in to a verified Bybit account before proceeding with a transaction via Bybit’s Fiat Gateway.
  • Choose the currency which you prefer from the drop-down menu. Once you select a currency, you enter your desired Bitcoin to be purchased. Do note that there is a transaction limit based on the gateway you’ve selected.
  • Choose a payment method and service provider via electronic fund transfer or Mastercard/Visa debit and credit.
  • Complete the third-party KYC verification to finalize the transaction.
  • Complete the transaction, then wait for the purchased Bitcoin to reach your Bybit account. The standard wait time is anywhere from 2–30 minutes.

What Happens After All the Bitcoins Are Mined?

Predicting what will occur once all bitcoins have been mined can be difficult because of the developing cryptocurrency ecosystem. However, the economics of Bitcoin will invariably change once all 21,000,000 Bitcoin are in circulation. For instance, traders and miners will have dissimilar incentives. Instead of receiving block rewards, miners could earn revenues and profits from transaction fees. The truth is, even the largest ownership of bitcoin in quantities does not have any control over the Bitcoin network. So, predicting what will happen exactly is relatively impossible.

Bitcoin is a highly popular cryptocurrency and can easily be purchased on your preferred exchange. Even though the value of Bitcoin is somewhat volatile, its scarcity has allowed it to reach a current value of more than $47,000. Now that you know who owns the most Bitcoin, and what types of institutions invest in this currency, you can get started with making your next investment.