Bitcoin Rich List 2024: Top Addresses, Individuals, Private Companies, and Public Companies
Bitcoin Rich List: Top BTC Holders In 2024
Key Takeaways
- Blockchain analytics reveal the top Bitcoin wallet addresses and the respective activities of each wallet.
- Exchanges, investors, and institutions mainly influence the Bitcoin distribution.
- Wealth concentration among Bitcoin holders raises centralization concerns.
- Increased adoption will lead to a more decentralized and fair Bitcoin ownership.
As of October 2024, the top 100 Bitcoin holders control 14.54% of the total supply, reflecting Bitcoin’s relatively decentralized ownership. This wide distribution suggests that Bitcoin is held by a broad base of individuals and institutions, which mitigates the risk of market manipulation by large holders, often referred to as “whales.”
In contrast, many altcoins exhibit much higher concentrations of ownership. For instance, the top 100 holders of Shiba Inu in 2024 was around 79% of the total SHIB supply, with 59% held by just the top 10 wallets.
Even at Ethereum, one could see a much more concentrated distribution among the top holders. As of October 2024, the top 10 Ethereum holders control 52% of the total ETH supply. Expanding this further, the top 20 holders account for 55%, while the top 50 holders control 59.82%. Together, the top 100 holders of Ether own 64% of the total Ethereum supply. This highlights that similar to many altcoins, Ethereum’s ownership is more centralized compared to Bitcoin.
Ahead of Bitcoin white paper’s 16th anniversary, this article explores the Bitcoin Rich List 2024—featuring top addresses, key individuals, private companies, and public companies that hold significant amounts of BTC.
Top 10 Richest Bitcoin Addresses
The following ten BTC addresses showcase the respective values of Bitcoin in BTC units and dollar terms as of May 9, 2024.
1. Binance Cold Wallet
BTC Hodl: 248,598 BTC
Dollar value: $16.6 billion
The largest Bitcoin wallet is controlled by Binance, a global cryptocurrency exchange, holding 248,597 BTC equivalent to over 1.2% of all circulating Bitcoin.
This balance was achieved by mainly storing customer funds in a cold wallet with minimal outgoing transactions with the most recent of which was eight months ago involving 21,600 BTC.
2. Bitfinex Cold Wallet
BTC Hodl: 180,010 BTC
Dollar value: $12.0 billion
The second-largest Bitcoin wallet is held by Bitfinex, a crypto exchange founded in 2012. The exchange has had its controversies but is still one of the largest holders of Bitcoin in the world today.
3. Binance Cold Wallet
BTC Hodl: 142,766 BTC
Dollar value: $9.5 billion
The second largest Bitcoin wallet controlled by Binance is a cold wallet holding more than 82 thousand BTC. It first became active in 2019. Since then, the wallet has seen an inflow of 9 thousand Bitcoin in May 2024.
4. Robinhood Wallet
BTC Hodl: 136,275 BTC
Dollar value: $9.1 billion
The third-largest Bitcoin wallet belongs to the Robinhood trading platform, according to data available. This wallet is linked to Robinhood by Arkham Intelligence but unconfirmed by the platform, and is managed by Jump Trading as its custodian.
Beginning in May 2023, it received multiple large deposits until June 30, followed by only minor transactions.
5. FBI Wallet (BTC 2016 Bitfinex Hack)
BTC Hodl: 94,643 BTC
Dollar value: $9.1 billion
The wallet is controlled by the U.S. federal authorities and holds Bitcoin stolen from Bitfinex in 2016 and became active in February 2022. The wallet was funded with large transactions on February 1, 2022, and has since only received minor amounts, without any outgoing BTC transactions.
The wallet’s future transactions are anticipated to be significant as the Bitfinex hack investigation and related prosecutions progress.
6. Mt. Gox Hacker Wallet
BTC Hodl: 79,957 BTC
Dollar value: $5.4 billion
Controlled by a hacker, this wallet contains 79,956 BTC stolen from Mt. Gox in 2011, confirmed by former CEO Mark Karpeles as unauthorized transfers, labeling it stolen property.
Since then, the wallet has only received minor transactions and has not made any outgoing Bitcoin transactions since its creation.
7. Unidentified Owner
BTC Hodl: 79,000 BTC
Dollar value: $5.3 billion
The owner of the seventh-largest Bitcoin wallet remains unidentified. The wallet was activated on October 11, 2024 and received a substantial transfer of Bitcoin.
8. Unidentified Owner
BTC Hodl: 78,317 BTC
Dollar value: $5.2 billion
The owner of the sixth-largest Bitcoin wallet remains unidentified. The wallet was activated on March 25, 2024, and received a substantial transfer of Bitcoin.
Following this significant transaction, the wallet has seen minimal activity, only sporadically receiving small amounts of BTC.
9. Tether Cold Wallet
BTC Hodl: 75,354 BTC
Dollar value: $5 billion
Arkham Intelligence reports that Tether, the issuer of the popular USDT stablecoin, owns the seventh-largest Bitcoin wallet. This wallet has received multiple transactions consisting of thousands of BTC from the Bitfinex hot wallet account.
10. Mr. 100
BTC Hodl: 72,460 BTC
Dollar value: $4.9 billion
According to blockchain intelligence firm Arkham Intelligence, the Mr. 100 wallet has been identified as a cold wallet belonging to the Upbit cryptocurrency exchange and further confirmed by Crystal Intelligence through blockchain data analysis.
Who Is The Richest Known Bitcoin Holder?
Both individuals and institutions have generated significant wealth by holding Bitcoin, solidifying their positions as some of the wealthiest people and entities in the crypto space. Notably, these people include:
Satoshi Nakamoto
At the core of Bitcoin is its mysterious creator, Satoshi Nakamoto, who is believed to hold over 1 million BTC. The true identity of Nakamoto remains unknown, and these coins, accumulated during Bitcoin’s early days, have not moved in years, contributing to the mystery surrounding the Bitcoin blockchain.
The Winklevoss Twins
Tyler and Cameron Winklevoss, founders of the Gemini exchange, were early adopters of Bitcoin, investing millions and accruing many Bitcoins early on. It is believed that in 2012, the Winklevoss twins bought $10 million in Bitcoin when its price was around $8 into the 100s per Bitcoin.
At the time of writing, they are estimated to hold 70,000 BTC, equivalent to $4.7 billion based on the current price of $67,000 per Bitcoin.
Michael Saylor
The CEO of MicroStrategy, Saylor is a vocal figurehead of Bitcoin, with his company holding a reported 214,246 BTC as part of its corporate assets. Michael Saylor’s company, MicroStrategy, holds 252,220 BTC as part of its corporate treasury.
This massive holding equates to about $17 billion at current prices. Saylor has been one of Bitcoin’s most vocal proponents, preaching Bitcoins role as a store of value
CZ (Changpeng Zhao)
Binance founder Changpeng “CZ” Zhao, one of the largest cryptocurrency exchanges, has personal Bitcoin holdings speculated to be large, though exact figures remain undisclosed. However, Binance’s cold wallet, the largest in existence, holds around 258,000 BTC, worth about $17 billion today.
While it’s unclear how much of this CZ personally owns, his influence on the cryptocurrency space is undeniable. CZ served a four-month prison sentence and was released in September 2024.
Larry Fink
As the CEO of BlackRock, Larry Fink oversees the introduction of Bitcoin into various investment products, including ETFs, potentially influencing significant institutional flows into Bitcoin.
Larry Fink has spearheaded BlackRock’s introduction of Bitcoin investment products like ETFs, which has seen large institutional inflows into Bitcoin. However, no specific data on Fink’s personal Bitcoin holdings has been made public. His primary contribution is to promote Bitcoin’s legitimacy at an institutional level.
Brian Armstrong
As the CEO of Coinbase, Armstrong leads one of the most influential crypto exchanges, which manages substantial Bitcoin assets both on behalf of clients and in corporate reserves. While Armstrong’s exact Bitcoin holdings aren’t publicly known, he is known to be one of the wealthiest figures in the crypto space.
Which Crypto Exchanges Hold the Most Bitcoin?
The top exchanges manage significant portions of the global Bitcoin supply. As of October 2024, here’s a breakdown of the top crypto exchanges with extensive Bitcoin holdings:
Binance
Binance remains the largest holder of Bitcoin among exchanges. As a custodian for its vast user base, Binance holds more than 390,00 BTC, currently valued at around $26 billion.
This makes Binance one of the most influential entities in the crypto world. It provides secure and liquid storage solutions for traders and investors.
Coinbase
As one of the most trusted and regulated exchanges globally, holding around 9000 BTC, Coinbase manages large amounts of Bitcoin for its users. The crypto exchange is also entrusted with managing around 90% of Bitcoin ETF assets.
Bitfinex
Despite its tumultuous history, including the infamous 2016 hack, Bitfinex still holds a significant amount of Bitcoin. As of recent reports, it manages over 400,000 BTC. Bitfinex remains a central exchange for Bitcoin liquidity and trading.
Which Financial Institutions Hold the Most Bitcoin, and How Much Do They Own?
Financial institutional involvement has grown, with entities like Grayscale Investments holding a significant amount of Bitcoin in their Grayscale Bitcoin Trust (GBTC), which held approximately 220,713.5 BTC in October 2024.
Additionally, BlackRock holds 359,278 BTC through its iShares Bitcoin Trust, valued at around $24.07 billion. Meanwhile, Fidelity holds 185.093 BTC through its Wise Origin Bitcoin Trust, valued at approximately $12.4 billion.
Other major players in 2024 include traditional financial institutions and hedge funds, which have increasingly begun to accept Bitcoin as a legitimate asset class.
How Do Individuals Accumulate Massive BTC Holdings?
Various strategic approaches and timing influence individuals’ accumulation of massive Bitcoin (BTC) holdings. Said strategies include:
- Early adoption: One of the most straightforward paths to becoming a primary Bitcoin holder has been early adoption.
- Mining: In Bitcoin’s early years, the initial low difficulty level meant that individuals could mine a significant amount of Bitcoin with basic hardware.
- Successful entrepreneurship: Founders and early investors, when creating or facilitating platforms, exchanges, or services within the crypto ecosystem, tend to become large holders.
The Significance of Top BTC Holders or Whales
When a small concentration of individuals or entities hodl a significant amount of Bitcoin, these whales can affect the market in various ways, including:
- Market influence: Large transactions by whales can move Bitcoin prices, inducing volatility in the market either through actual trades or affecting market sentiment.
- Indicator of confidence: When prominent investors and large holders increase Bitcoin positions, it often signals a strong belief in Bitcoin’s long-term value.
- Centralization concerns: The concentration of substantial Bitcoin holdings among a relatively small group of individuals and entities raises concerns about centralization, which Bitcoin initially sought to disrupt.
The Future of the Bitcoin Distribution
The BTC distribution will become equal as Bitcoin matures due to increased adoption and market acceptance. The potential for broader adoption suggests more individuals will begin to hold smaller amounts of Bitcoin, reducing the concentration of wealth and increasing market stability.
Additionally, it is important to note that while a small number of whales hold large amounts of Bitcoin, a significant portion remains distributed among smaller investors like “fish,” “crabs,” and “sharks.” These groups collectively hold a considerable share, supporting the decentralized nature of Bitcoin and ensuring it remains accessible to a diverse array of participants.
Conclusion
The rich list of Bitcoin marks individuals and institutions as the largest holders in the space, holding a significant amount of BTC through various means.
These players have a huge influence on market stability and indicate broader economic shifts. As Bitcoin becomes accepted, its growing adoption may lead to a more decentralized distribution.
FAQs
Early adopters of Bitcoin, who invested before its widespread recognition, typically hold larger amounts due to the significant appreciation over time. While individual mining has become less profitable due to increased difficulty and the need for advanced equipment, it can still be a viable strategy in Bitcoin’s early days. Large holders, or whales, can influence Bitcoin prices, either by making large transactions or through strategic holdings, affecting market volatility.How does early adoption impact Bitcoin holdings?
Can Bitcoin mining still be profitable for individuals?
What are the implications of Bitcoin whales on market stability?
