Bitcoin Whales who are they?

In the world of cryptocurrencies, various scales have become popular, in which most use different animals to pigeonhole the many investor profiles.

The largest investors in digital currencies are known as “whales” It is customary to call such players with a minimum of 1,000 BTC.

Several of them are known, such as Pantera Capital or Coin Capital Partners, even if other influential addresses are not known.

It is complicated to know to whom the addresses belong or whom the entities hold the largest portions of Bitcoin. However, reports provided by analysts and professionals allow speculation as to who might qualify for this set of giant fish.

So a whale is an actor that trades vastly more money than the average investor so they possess the power to manipulate it up or down.

As an example, when whales begin to hold their bitcoins for extended periods, it indicates a good future for the cryptocurrency and there is speculation of a rise in its cost. The opposite may also happen. Once whales massively sell an asset, other smaller investors tend to continue the trend, and consequently, it can cause a drop in the cost of the currency.

Not only can monumental organizations be known as whales, but some have speculated that there are individual investors, popularly known in the crypto world. One example is Satoshi Nakamoto, who is the first to mine and hold this asset and is believed to have around 1 million bitcoins.

Other known investors who could receive the title of whales are the Winklevoss twins, who in 2013 mentioned having 1% of all Bitcoin and who could currently collect more than that.

The whales as a group have not diminished, but they have increased, so they will continue to accumulate large amounts of bitcoin and act as holders for a great period more.

Other denominations to know are as follows:

• Shrimp: less than 1 BTC
• Crab: between 1 and 10
• Octopus: 10-50
• Fish: 50-100
• Dolphin: 100-500
• Shark: 500-1,000
• Whale 1,000-5,000
• Humpback whale: more than 5,000 bitcoins

Many times while navigating this immense world, we may come across terminology that we don’t know or fail to understand so here at The Blue Manakin we will do our best to help you understand this vocabulary in the crypto world.