It's difficult to know exactly how much whales control. Some analysts speculate that several million BTC are actually lost, which would lower the circulating supply considerably.

Sure, whales definitely exist, but their coins are becoming increasingly distributed over the years. When I first started watching the charts years ago, whales buying and selling thousands of coins at a time was much more common.


That doesn't seem like a big deal. Cryptocurrencies are permissionless, so anybody can spin off a fork if they want to. It's up to the market to decide whether those forks are worthless or not.

Isn't that a good thing?