"The bottom line? The role of whales in the Bitcoin market may be overstated. The top 32 whales control around 6% of the supply, but that figure drops to 4.6% when lost Bitcoins are taken into account.
first of all this is altcoin board not bitcoin. you should move this to an appropriate board.
secondly it has never been about how much of the supply you own. you may own a lot more than those percentages but still can't manipulate anything or you may own a lot less and manipulate a lot. it all depends on which market you are analyzing and since you posted this in altcoin board i give an example with altcoins.
there are altcoins with more than 100 billion supply but you can manipulate them with smaller than 1000 coins or a value equal to 0.1
BTC or less. but in bitcoin market you wouldn't be able to do shit with 0.1
BTC!