Post
Topic
Board Bitcoin Discussion
Re: Are there truly crypto whales and what are your takes on them?
by
pooya87
on 08/01/2023, 04:24:46 UTC
~Are there private individuals who own and posses such amount of Bitcoin?
~Why will one posses such amount as an Individual?
~Are there any consequences to this?
Almost all the time whenever you find a bitcoin address containing a very large amount of bitcoin (like the one in your screenshot) it belongs to a centralized service that is holding other people's bitcoins (in this case a centralized exchange called Binance).

But it is not unheard of for an individual to own that much bitcoin either, remember that bitcoin price was not always this high and will not remain in this level forever. As it keeps rising, a small amount today would look like a lot in the future. For example the 50BTC block reward was once worth barely $0.5.

There is no "consequence" of having money! Why would there be? There can only be consequence if the owner advertises it and puts themselves at risk of theft or other types of attacks/harm.