What is Bitcoin? Top 10 Bitcoin Whales in the World

The biggest hot topic this year is Trump's victory in the US election. Musk spent a lot of money to support Trump's election, and Bitcoin rose wildly. Among them, Bitcoin has been advancing all the way after Trump won the US election with a large vote, and it has been approaching 100,000 US dollars. Analysts generally believe that it is only a matter of time before it breaks through 100,000 US dollars. Mainstream media around the world are scrambling to report the news that Bitcoin is approaching 100,000 US dollars. For a time, Bitcoin has once again become the darling of the market.

On November 21, data showed that the current total market value of cryptocurrencies was $3.28 trillion, up $116.355 billion in 24 hours, a 3.68% increase. Among them, Bitcoin's market value accounted for 59.15%, and Ethereum's market value accounted for 12.16%. Bitcoin's market value once again approached 60% of the total market value of cryptocurrencies. If history can repeat itself, the entire cryptocurrency circle will be boiling again, and the cryptocurrency bull market will come again in the future.

So what is Bitcoin? What is its special attraction that has shocked global capital and attracted bigwigs like Trump and Musk?

Bitcoin is a form of currency proposed by a person named Satoshi Nakamoto in 2008. It is an electronic currency generated by open source P2P software. Its credit is not supported by a certain person or organization, and does not require the endorsement of a central agency. Instead, it is based on natural algorithms and is a natural credit currency.

The reason why Bitcoin is sought after by global capital is that it has the advantages of scarcity, no borders, everyone can participate, decentralization, large price fluctuations, and high security.

The total number of bitcoins is 21 million. Satoshi Nakamoto himself has long disappeared from the cryptocurrency circle. He holds 1.1 million bitcoins. In addition, in the early stages of bitcoin, the value of bitcoin was not high, because there were countless bitcoins lost due to hardware equipment or theft. In fact, the number of bitcoins actually circulating in the market is far less than 2,100. Bitcoin is a deflationary currency, and there is no inflation. Bitcoin is a P2P-based digital currency, which means that it can be circulated globally, without space, time, or geographical restrictions, and everyone can participate. In the early mining of bitcoins, ordinary computers could participate, but with the passage of time and the upgrading of technology, mining has gradually become a game for a few people.

Bitcoin is not issued and endorsed by a central institution. It is decentralized, which means that Bitcoin will not be controlled by a recognized institution. It is a natural credit currency, similar to gold. In the past few years of development, Bitcoin has acquired the properties of gold and is called "digital gold". Its price fluctuations are also very large. In the bull market every four years, the price of Bitcoin fluctuates by at least 10 times, which has attracted the attention and pursuit of global capital and allowed more people to participate. Bitcoin is completely dependent on blockchain technology and has no issuance center, so it cannot be closed by the outside world. The price of Bitcoin may fluctuate or even collapse, and many governments may declare it illegal, but Bitcoin and the huge Bitcoin network will not disappear.

The world's top 10 Bitcoin whales:

The first place is undoubtedly Satoshi Nakamoto, who holds more than 1.1 million bitcoins. The 2nd to 10th places are Coinbase, Binance, BlackRock, BlackRock, Bitfinex, Microstrategy, Grayscale, the US government, Fidelity FBTC Fund, and WBTC project.