Who owns the most Bitcoin Cash?
Bitcoin (BTC) is currently the most valuable cryptocurrency. However, it is not without problems. It allows a relatively small number of transactions per second, which limits its usefulness for payments.
To address this concern, bitcoin cash (BCH) was launched in August 2017. It is a peer-to-peer digital currency that emerged from a Bitcoin hard fork.
Bitcoin cash is one of the top 30 coins today (September 2), with a market cap of $2.21 billion, according to CoinMarketCap.
Although the goal of cryptocurrencies is decentralization, a few large owners, known as whales, can control a significant portion of the supply. As a result, whales have a significant effect in determining the direction of a coin’s price.
Who owns the most bitcoin money? Here we take a look at BCH’s circulating supply and ownership concentration.
What is bitcoin cash?
Bitcoin cash (BCH) is a decentralized peer-to-peer electronic cash system, independent of any government or financial organization.
Bitcoin cash, unlike Bitcoin, intends to scale to meet the needs of a global payment system and provide a cheaper, faster method of processing payments.
The Bitcoin cash block size was expanded from 1MB to 8MB at the time of the fork. It currently (September 2) supports up to 32MB.
A larger block size enables bitcoin cash to process more transactions per second (TPS) while keeping costs very low, thus solving the payment delays and excessive fees faced by some Bitcoin network users.
Bitcoin cash transactions often cost less than a cent, and settlement is almost instantaneous, regardless of the participants’ physical location. This makes the crypto useful for money transfers and international trade, and everyday transactions such as grocery shopping.
Due to cheap transaction costs and fast transaction times, bitcoin cash is also suitable for microtransaction use, such as tipping content producers and rewarding app users.
Bitcoin cash also includes smart bitcoin cash (SmartBCH), a bitcoin cash sidechain that aims to explore new concepts and unleash new possibilities.
SmartBCH is compatible with Ethereum Virtual Machine (EVM) and Web3 API. It delivers high throughput for decentralized applications (DApps) in a secure, fast and decentralized manner.
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Bitcoin cash tokenomics
Like bitcoin, the total supply of bitcoin cash is hard-capped at 21 million coins. Of these, 19.16 million were in circulation at the time of writing on 2 September.
Additionally, like bitcoin, bitcoin cash undergoes a halving over time. Block halving occurs every four years. The first BCH halving occurred on April 8, 2020, marking the end of the period in which miners earned 12.5 BCH per mined block and the beginning of the current cycle in which miners receive 6.25 BCH per mined block.
The subsequent halving will reduce the block reward to 3,125 BCH, and is expected to occur in January 2024.
The halving policy was programmed into the Bitcoin mining algorithm to combat inflation by preserving scarcity.
Who owns the most bitcoin money?
CoinCarp data provides significant information about who owns the most bitcoin cash. As of September 2, there were 17.12 million BCH holders. It is worth noting that there has been no change in total wallets and ownership concentration in the last month.
At the time of writing (September 2), the largest BCH whale controlled 4.26% of the BCH coin supply. The wallet has the most bitcoin cash, which amounts to 893,949 tokens, equivalent to $103,360,479. The second largest BCH wallet held 288,019 tokens, or 1.37% of the supply.
Huobi Global, one of the leading cryptocurrency exchanges, held 183,687 BCH coins, or 0.88% of the BCH supply, making it the third largest BCH holder.
Further analysis showed that Kraken, another leading cryptocurrency exchange, also held a combined 0.29% of its BCH supply in two different wallets, equivalent to 61,429 tokens.
The statistics showed that the top 10 bitcoin cash holders controlled 11.19% of BCH coins. The top 100 holders controlled 28.4% of the supply.
It is unclear who owns these wallets. Bitcoin Jesus’ Roger Ver, Calvin Ayre and Jihan Wu could hold large amounts of BCH, but there is no evidence to support this.
Chain analysis data showed that BCH held for over 52 weeks had decreased by an average of 2,900 BCH in the past four weeks.
The longer an asset is kept, the greater the likelihood that the holders use it as a store of value or are inactive.
During the same period, bitcoin cash, with unrealized profits of 100% or more, has risen by an average of 117.79k BCH per week over the past four weeks – the highest increase in seven weeks.
The greater the unrealized gain, the greater the probability that a person will sell assets in a stock exchange and realize any profit.
The way forward for bitcoin cash
![Bitcoin cash [BCH] price chart](https://img.capital.com/imgs/articles/750xx/Who-owns-the-most-Bitcoin-Cash-1_MCT-6790_EN.png "Bitcoin cash [BCH] price chart")
Bitcoin cash has been witnessing a bear market for the past couple of months. As of September 2, BCH was trading at $116.51, down over 72% year-to-date (YTD), with a market cap of $2.4 billion, making it the 29th largest cryptocurrency.
Volatility in the broader cryptocurrency market worsened during June and July, with many coins falling to their 52-week lows. BCH hit a 52-week low of $96 on July 13 as investors pulled out amid inflation fears and market volatility.
In accordance Macro axisthe correlation coefficient between Bitcoin and Bitcoin Cash prices over the past three months is 0.97, indicating a reasonably positive correlation.
This coefficient ranges from -1 to 1, where -1 is the strongest negative correlation, 0 is no correlation, and 1 is the strongest positive correlation.
A negative coefficient means that the prices of the two cryptocurrencies are trending in opposite directions, while a positive coefficient indicates that the prices are moving in a similar direction.
It is fair to say that the BCH price has moved largely in line with the BTC price.
Meanwhile, the development team hasn’t shared any meaningful news over the years. In fact, the last official tweet from the bitcoin cash team was in November 2020. It is still uncertain what the future holds for BTC.
The bottom line
While knowing who owns the most BCH can be crucial, you should always do your own due diligence before trading, studying the latest news, technical and fundamental analysis, and analyst commentary.
Past performance does not guarantee future results. And never trade with money you can’t afford to lose.
Common questions
Is Bitcoin cash a good investment?
Bitcoin cash (BCH) emerged as a bitcoin hard fork in August 2017. It is a peer-to-peer digital currency that acts as an electronic cash payment system. Since reaching an all-time high of $4,355.62 in December 2017, price action has been bearish, with the coin currently trading over 98% below its peak.
Whether a high-risk asset like BCH is a good fit for your portfolio depends on your circumstances and risk tolerance. You should do your own research and analysis, taking into account your expertise in the market and attitude to risk, as well as who owns the most BCH. Remember to never trade or invest money that you cannot afford to lose.
How many Bitcoin Cash are there left?
In accordance CoinMarketCap, bitcoin cash has a maximum supply of 21 million tokens and, as of September 2, a circulating supply of 19.16 million tokens. This suggests that 1.84 million BCH tokens are still left to be mined.
Is BCH better than BTC?
BTC and BCH are peer-to-peer digital currencies. As of September 2, BTC has the highest market cap of any coin.
However, cryptocurrency is an inherently risky asset class. You should do your own research and analysis, taking into account your expertise in the market and attitude to risk, as well as who owns the most BCH. Remember to never trade or invest money that you cannot afford to lose.
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