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Whale

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In the world of cryptocurrencies, whales are individuals or entities who possess a significant amount of digital currencies and have the ability to strongly influence market prices. They are contrasted with smaller cryptocurrency holders known as fishes or minnows, who have relatively insignificant amounts of cryptocurrency.

While there is no distinct threshold to categorize a whale, many consider a Bitcoin whale to be someone who possesses at least 1,000 BTC. According to the Pareto Principle, it is estimated that the top 20% of Bitcoin owners control over 80% of the currency's value. Generally, the identities of Bitcoin whales are kept anonymous.

Some of the most prominent Bitcoin whales include Satoshi Nakamoto, the mysterious creator of Bitcoin, and Tyler and Cameron Winklevoss, the co-founders of the Gemini exchange. Institutional whales such as Tesla and Microstrategy also hold substantial amounts of Bitcoin, placing them among the industry's largest holders.

Although whales are commonly seen as affluent individuals, the term also encompasses organizations with significant cryptocurrency holdings, capable of impacting the market's upward or downward movements.

Bitcoin whales are known for establishing speculative patterns that smaller holders tend to follow, leading to a cyclical trend where BTC behavior deviates from the broader cryptocurrency market determinants.

Notably, Australian businessman Craig Wright faced legal action in 2019 over claims of owning more than 1.1 million BTC. Wright was previously touted as the elusive Satoshi Nakamoto, the pseudonymous creator of Bitcoin. Large transfers of BTC, particularly from dormant cryptocurrency wallets, often spark speculation about the continued involvement of Satoshi Nakamoto in the cryptocurrency space.

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