Bitcoin was created on Jan. 3, 2009, with the mining of the genesis block by Satoshi Nakamoto, marking the birth of the first cryptocurrency. Over time, certain wallet addresses have accumulated a significant portion of the Bitcoin supply. The Blockchain Council reports that more than 19.71 million BTC have been rewarded to miners, out of a total of 21 million available. Data from BitInfoCharts reveals that a small percentage of wallet addresses, known as 'whales,' hold over 90% of the total BTC in circulation. This concentration of wealth raises concerns about market manipulation and centralization. Experts emphasize the importance of promoting decentralization to mitigate risks associated with uneven distribution. While whales can influence market dynamics, any significant changes to the Bitcoin network require broad consensus among miners, developers, and node operators. Read more AI-generated news on: https://app.chaingpt.org/news

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