Who Has The Biggest Stash Of Bitcoins?

Launched in 2009, Bitcoin is by far the most widely used cryptocurrency in the world. Bitcoin has had its fair share of controversies, but it still remains one of the most trusted and reliable cryptocurrency. Over the years, the value of Bitcoin has increased exponentially. This has attracted a large number of people who regularly invest in Bitcoins.

The basic idea is similar to the stock market, where investors book profits when prices of stocks move up. On the downside, the risk of erosion in Bitcoin valuation is always there. Just like stocks, people can buy Bitcoins as part of their long-term investment goals. The total number of Bitcoins currently in circulation is more than 18.5 million. Each Bitcoin is valued at around USD 60,495. The high price is not a problem, as investors can buy Bitcoins in fractional subunits.

So, have you ever wondered who currently has the largest holding of Bitcoins? Well, Bitcoins are currently owned by a number of entities including its founders, government agencies, and retail investors. For better understanding, here’s a quick look at some of the biggest holders of Bitcoin.

FBI – In 2013, FBI confiscated 144,000 Bitcoins when they raided a dark web marketplace named Silk Road. It is said that FBI has sold most of the Bitcoins it had confiscated.

BitFinex – One of the leading Bitcoin wallets, BitFinex holds 163,133.38 Bitcoins. These are stored in an offline environment to keep them safe from hacker attacks.

Bulgaria – Most countries in the world currently do not have a legal framework for cryptocurrency. So, maintaining reserves of Bitcoin is out of question. But Bulgaria got lucky when its enforcement agencies confiscated 213,519 Bitcoins from crime syndicates. The Bulgarian government has not made an official statement as to what they plan to do with the seized Bitcoins.

Satoshi Nakamoto – Who founded Bitcoin is still a secret. However, the founder or founders are collectively nicknamed Satoshi Nakamoto. It is estimated that the founder(s) collectively own around 1.1 million Bitcoins. However, they are unlikely to sell their holding and book profit because doing so will result in a drop in valuation of Bitcoin. It is possible though to sell small numbers of Bitcoins at a time.

The Winklevoss Twins – These twins are among the richest Bitcoin owners. They had purchased 1.5 million Bitcoins way back in 2013, when the cryptocurrency was valued at just $130. If you compare it to current rates, you can imagine how much wealth the Winklevoss Twins have created just by their investment in Bitcoin. It is estimated that the twins currently own around 1% of the Bitcoin in circulation.

Bitcoin value has grown by leaps and bounds over the years. This presents a significant opportunity for investors. However, you should remember that Bitcoin valuation had dropped multiple times in the past. And it can happen again. So, be aware of the risks before you invest in Bitcoin.