This Is How Much Bitcoin (BTC) You Need to Be Considered Whale by Blockstream CEO

According to Blockstream CEO Adam Back, owning 100 BTC might be enough to make you a Bitcoin (BTC) whale.  

The Bitcoin pioneer, who was cited in Satoshi's whitepaper, claims that this would be "a staggering amount of value" at $10,000 per one coin.   

While bitcoin price > $10k then 100BTC would qualify someone as a HNWI with > $1mil in liquid assets, so I would say yes #bitcoin ?. Globally less than 1% have with wealth > $1mil so 100BTC is a staggering amount of value to most people. In many, many locations you could retire.

— Adam Back (@adam3us) April 22, 2020

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Whales are growing stronger

The number of Bitcoin whales reached a two-year high on Apr. 10 amid what appears to be a new accumulation phase.   

The number of $BTC whales continues to grow, hitting 2-year highs - the last time we saw this many during an accumulation phase was in 2016.

This becomes interesting when we compare it with the last #Bitcoin halving.

Read more in The Week On-Chain ?https://t.co/CJOl6xqyyX pic.twitter.com/BE9N4reNcD

— glassnode (@glassnode) April 9, 2020

According to data provided by CoinMetrics, holders with at least 1,000 BTC control more than 42 of Bitcoin's total supply. Notably, this percentage is four percent higher compared to the December 2017 peak, which can be explained by the fact that a lot of retail investors jumped ship after the crash.      

Still, Bitcoin pales in comparison to other projects when it comes to wealth inequality. Stellar and Ripple take a cake in this department, with more than 80 percent of their addresses being controlled by deep-pocketed holders. 

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Smaller addresses on the rise 

Despite the dominance of whales (and inevitable centralization concerns), the number of smaller Bitcoin addresses has also been on the rise as of recently. 

As reported by U.Today, the number of wallets that hold at least 1 BTC recently reached its all-time high. 

This also applies to all addresses with non-zero balances, which surpassed their 2017 peak in late March.