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The bitcoin whales: 1,000 people who own 40 per cent of the market

Holders of large amounts of bitcoin are often known as whales. And they're a worry for investors

Olga Kharif | Bloomberg 

On November 12, someone moved almost 25,000 bitcoins, worth about $159 million at the time, to an online exchange. The news soon rippled through online forums, with bitcoin traders arguing about whether it meant the owner was about to sell the digital currency. Holders of large amounts of bitcoin are often known as whales. And they’re becoming a worry for investors. They can send prices plummeting by selling even a portion of their holdings. And those sales are more probable now that the cryptocurrency is up nearly twelvefold from the beginning of the year. About 40 ...

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First Published: Sun, December 10 2017. 00:45 IST
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