A lot of theories have emerged on why Bitcoin has skyrocketed almost 60% in the past month, with most heralding widespread adoption by institutions and individuals.The fact remains that there’s nothing widespread about Bitcoin ownership.
A few large holders commonly referred to as whales continue to own most Bitcoin. About 2% of the anonymous ownership accounts that can be tracked on the cryptocurrency’s blockchain control 95% of the digital asset, according to researcher Flipside Crypto.
“The story is that as the price has surged upwards lately, the concentration in the hands of the largest accounts has also risen” since July, ...
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