Bitcoin Whale: Defined & Explained

By Nicholas Rossolillo – Updated Jun 17, 2025 at 12:52 PM

Key Points

Bitcoin whales own large Bitcoin amounts, potentially influencing market prices with their trades.
Top Bitcoin whales include notable figures and organizations but specific identities are often unknown.
Long-term Bitcoin value depends on adoption and technological development, not just whale activity.

In the world of investing, the term “whale” is often used in reference to a market participant with enough buying or selling power to cause a temporary increase or decrease in an asset’s price.

CRYPTO: BTC

Bitcoin

Today's Change

(-1.52%) $-1745.19

Current Price

$112812.00

Key Data Points

Market Cap

$2250B

Day's Range

$112474.00 - $116041.00

52wk Range

$66853.85 - $126079.89

Volume

61B

Avg Vol

Gross Margin

0.00%

Dividend Yield

N/A

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List of top Bitcoin whales

It isn’t possible to know exactly who or what organization owns specific crypto wallets. However, some notable Bitcoin proponents and whales include Bitcoin’s creator Satoshi Nakamoto (a pseudonym that might be an individual or a group of people); software company MicroStrategy (MSTR -3.72%) and CEO Michael Saylor; Coinbase Global (COIN -1.72%) and co-founder and CEO Brian Armstrong; and crypto exchange FTX founder and CEO Sam Bankman-Fried.

Tesla (TSLA +1.80%) CEO Elon Musk has also been known to move Bitcoin prices with his tweets about his interest in the digital asset, although his actual personal investment in Bitcoin is unknown.

Although specific Bitcoin ownership is difficult to track, here are the top five richest crypto wallet holders:

Data source: BitInfoCharts.com. Data as of May 31, 2022.
Bitcoin Wallet Address	Number of Bitcoins Held	Value (as of May 31, 2022)	Percent of Total Bitcoins
34xp4vRoCGJym3xR7yCVPFHoCNxv4Twseo	252,597	$8.08 billion	1.33%
bc1qgdjqv0av3q56jvd82tkdjpy7gdp9ut8tlqmgrpmv24sq90ecnvqqjwvw97	168,010	$5.37 billion	0.88%
1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ	127,874	$4.09 billion	0.67%
3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb	116,601	$3.73 billion	0.61%
bc1qazcm763858nkj2dj986etajv6wquslv8uxwczt	94,643	$3.03 billion	0.50%

Should you pay attention to Bitcoin whales?

Bitcoin whales can temporarily move the Bitcoin market if they start making big purchases or sales of the crypto. If you are a crypto trader, Bitcoin and crypto whales might be a key way to get hints about short-term price action -- although it’s worth noting that crypto prices are highly volatile, and whale orders are only one metric that affects these swings.

Stock Market Volatility

Stock market volatility is a measure of how much the stock market's overall value fluctuates up and down.

However, if you are a long-term investor in Bitcoin, these short-term moves don’t need to be a constant concern. Over the course of many years, Bitcoin’s value will primarily be affected by the cryptocurrency’s adoption among investors, daily use of the crypto among businesses and individuals, and the development and improvement of the crypto and the blockchain technology itself.

About the Author

Nicholas’ investing experience began when he opened up a retirement account shortly after finishing high school. His work experience in financial services began in 2007 in an internship position with a national brokerage firm in Arizona. While his career path led him into civil engineering and related fields, he stayed personally involved and active in the investment realm. He eventually returned to a career in investments and financial services in 2012, running a branch office for the same national brokerage firm, this time just outside of Spokane, WA. During the Great Recession, he began developing a flexible and global investing approach that could evolve with a tumultuous and ever-changing world. Wanting to offer that approach to investment management to his clients paired with a financial planning and consulting business, he founded Concinnus Financial in 2014. Nicholas grew up in a small town on the Northern California coast just a few minutes from the Oregon border. Growing up in a rainy, quiet little town, he developed a love of music and can play several instruments. He now lives with his wife Kasey and their two Humane Society-rescued dogs. Together they enjoy the outdoors all four seasons of the year, cooking, and craft beer and wine.

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Nicholas Rossolillo has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin and Tesla. The Motley Fool recommends Coinbase Global. The Motley Fool has a disclosure policy.