He is one of the largest Bitcoin owners, and this is causing havoc in the crypto-sphere

He is one of the largest Bitcoin owners, and this is causing havoc in the crypto-sphere ...

News JVTech He is one of the largest holders of Bitcoin, and it is causing havoc in the cryptosphere.

Published on 01/04/2023 at 19:13

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This whale knows how to be discreet, especially when it is so familiar to more than one person. Especially when the owner's identity scares them all.

This crypto behemoth was unimaginable.

A handful of individuals hold a large share of the precious Bitcoins in the cryptocurrency industry. These individuals alone hold a significant share of the approximately 19 million BTC in circulation.

One of the most notable is:

The Binance crypto exchange (between 550,000 and 630,000 BTC, or no less than 14 billion euros) Microstrategy (130,000 BTC, 3.3 billion) The Winklevoss brothers (70,000 BTC, 1.8 billion euros)

There are bitcoin owners who aren't as traditional acquirers as some governments.

Despite recent strong measures against the cryptocurrency sector on its territory, the United States government is one of the largest holders of Bitcoin.

In the notorious drug sales website "Silk Road," the government had confiscated a total of 69,369 bitcoins.

Nonetheless, the US government's agenda includes not just this big takeover. According to "21shares," the country alone holds over 205,000 bitcoins, or roughly 5 billion euros.

Three examples illustrate the main point.

The Silk Road in 2015, mentioned above, (69,369 BTC obtained in 2020)The Silk Road hack in 2012 (51,326 BTC obtained in 2022)

Many crypto enthusiasts are concerned that the United States is now one of the largest holders of Bitcoin.

The United States is set to sell an enormous amount of Bitcoins.

A potential massive sale might still have significant impacts on the price of cryptocurrency at first glance.

ConcERN: a sale must have a buyer opposite. Only, if there are not enough requests, the price will lower to sell off the remaining bitcoins. This leads to worries about the Bitcoin price falling too much recently.

Since selling 9,800 BTC in March, these well-founded fears have become a reality.

The state intends to sell 41,490 Bitcoins related to the 2012 Silk Road hacking scandal. This massive sum of one billion euros at the current Bitcoin price will be sold in four lots throughout this year. Therefore, bitcoin might be roiled.

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