If you’re involved in the cryptocurrency space, it’s very likely that you’re familiar with the term “bitcoin whales,” or those with a stronghold in the bitcoin markets. According to a recent study by blockchain research startup Chainalysis, this mysterious cluster of 1,600 investors collectively holds $37.5 billion worth of bitcoin; close to one-third of the total available. Because of their strong presence in the cryptocurrency space, many potential investors believe that the whales will continue to influence the industry, and are therefore hesitant to buy in. I, however, disagree.
Below, I’ll use this piece to explore the top three reasons as to why I believe bitcoin whales are losing traction every day.
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