“We can derive that around 2% of network entities control 71.5% of all Bitcoin. Note that this figure is substantially different from the often propagated "2% c

“We can derive that around 2% of network entities control 71.5% of all Bitcoin. Note that this figure is substantially different from the often propagated "2% control 95% of the supply".” “The above figures are an estimate for an upper bound of the true distribution of Bitcoin ownership. We expect the actual distribution to be more evenly distributed across entity sizes.” “ Since the beginning of 2020 the supply held by large entities (whales + humpbacks) has increased 13.4%, and their number by more than 27% to over 2,160 whale entities. See in particular the huge uprise in 2021 – this supports the current narrative that high net worth individuals and institutional investors have been entering the space.” “I believe this to be bullish for the future price of Bitcoin in the upcoming months.”