Beware of the Bitcoin Whale.  There are 86 wallets that make up approximately 14% of existing bitcoins, with a market value of approximately $130 billion (as of this episode's airing).  Host Sebastian Stone explains why this number is misleading, however.  It does not account for inactive accounts or lost coins, which make up a surprising (and growing) percentage of the bitcoin market.

Accordingly, Bitcoin Whales have significant market share and power over bitcoin and how it is traded. With little to no oversight in any jurisdiction, they could exercise this power in potentially nefarious ways. The risk that Bitcoin Whales decide to dump their coins may be remote, but it exists. There is nothing currently stopping these dominant market participants from unduly influencing bitcoin markets.

This episode explores these inherent risks, including the elaborate pump-and-dump schemes that Bitcoin Whales could try to execute.  It also dives into the deterrents currently in place and how regulators and prosecutors around the world might think about addressing the risks. Until they do, it's buyer beware. 

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