Big Players Accumulate Bitcoin as Only 6% of Total Supply Remains Unmined: Every Year Bull Run
As the cryptocurrency world continues to evolve, the accumulation of Bitcoin by significant players has become a focal point of interest. With only 21 million Bitcoin ever to be mined, and approximately 94% of that supply already mined, the race for the remaining 6% is intensifying.
The current data provided by Bitcoin analytic platforms showcases the top Bitcoin holders, with Satoshi Nakamoto, the mysterious creator of Bitcoin, reportedly holding 1,100,000 BTC, followed by major Crypto exchanges like Binance, BlackRock, and Coinbase.
Binance, a global cryptocurrency exchange, ranks second with 550,133 BTC, demonstrating its dominant position in the crypto market. BlackRock, a leading asset management firm, and Coinbase, a prominent U.S. exchange, hold 305,614 BTC and 294,000 BTC, respectively.
As Bitcoin’s fixed supply continues to dwindle, the influence of these large holders on the market will likely grow. The scarcity of Bitcoin, coupled with its decentralised nature, makes it a valuable asset for these players, who are positioning themselves for long-term gains.
The remaining 6% of Bitcoin will be mined over the next several years, following a predetermined halving schedule that reduces the reward for mining new blocks by half approximately every four years. This gradual process ensures that the final Bitcoin will not be mined until around the year 2140, but as the supply diminishes, the value and control of existing Bitcoin are expected to concentrate further among these big players.
This trend raises questions about the future decentralisation of Bitcoin, as large entities may exert significant influence over the market. However, it also underscores the unique value proposition of Bitcoin as a finite resource in a world of unlimited fiat money printing.
As we approach the final stretch of Bitcoin mining, the actions of these key holders will be crucial in shaping the future dynamics of the cryptocurrency market. Whether they will use their influence to support the decentralised ethos of Bitcoin or to further centralised control remains to be seen.
Read also: Vitalik Buterin Says Crypto Decentralization Freedom at Risk Without Strong Governance
