Bitcoin’s 20,000 Whales Rule 60% of the Crypto Seas!

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Sani, the esteemed Archivist of the Time Chain Index, peered into the digital abyss and found that a mere 20,000 addresses hoard over 60% of Bitcoin’s supply. The rest? A chaotic dance of 3.9 million “active users” who probably just want to buy a pizza. 🐋💸

While bitcoin has recently become the talk of the town (thanks to the Trump Administration’s crypto antics and corporations treating it like a shiny new toy), it still has a long way to go before it’s truly “mainstream.” Sani, the on-chain oracle, examined the blockchain to find out who’s really pulling the strings. Spoiler: it’s not you. 🧙‍♂️

On September 26, Sani took a snapshot of the blockchain and discovered that 60% of BTC is controlled by 18,695 whale addresses. “This proves that raw address counts are as useful as a chocolate teapot,” he said. “Many addresses are either dust, pooled wallets, or custodial-like a bank account, but with more mystery.” 🧠

Of the 54 million addresses analyzed, 271,883 were controlled by entities (companies, miners, exchanges, etc.), which hold 8,789,113 BTC-nearly 44% of the total. These pooled addresses are as common as a dragon in a pub. 🐉

After removing dust (tiny BTC amounts, like a few pennies in a digital world) and pooled addresses, we’re left with 23.4 million addresses controlling 11,131,336.93 BTC. That’s like saying there are 23.4 million people in a village, but some have multiple passports. 🗺️

Sani stated:

Assuming an average of 6 addresses per user, the Bitcoin network likely has ~3.9 million active users, which is about as many as a small village, but with more crypto. 🧑‍🌾

He clarified that these numbers are based on an assumption, given that 23.4 million addresses don’t represent unique users. “Most people have multiple addresses, like a wizard with a hat collection,” he said. 🧙‍♂️

Finally, Sani warns that using raw address counts to estimate real users is as reliable as a fortune cookie. “Careful filtering and clustering reveal the true scale of the network,” he concluded, while probably sipping tea and smirking. 🫖

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2025-09-29 13:25