Bitcoin continues to captivate investors, analysts, and enthusiasts worldwide, not only as a decentralized digital currency but also as a store of value held by a diverse range of entities—from early adopters and institutional investors to long-term hodlers and major exchanges. Monitoring the largest Bitcoin addresses offers valuable insights into market concentration, whale behavior, and potential shifts in supply dynamics.
This article explores the 501st to 600th richest Bitcoin addresses, providing an in-depth look at wallet balances, transaction histories, and on-chain activity. These wallets collectively hold tens of thousands of BTC, representing a significant portion of the total circulating supply. Understanding their behavior can help inform investment strategies and broader market analysis.
Understanding the Data: What These Metrics Reveal
Each entry in this list includes key metrics:
- Balance: Total BTC held.
- Percentage of Total Supply: Share of all Bitcoin in circulation.
- First In / Last In: When the address first and most recently received funds.
- Ins / Outs: Number of incoming and outgoing transactions.
- First Out / Last Out: Timestamps for the earliest and latest outgoing transactions.
These data points allow us to infer whether a wallet is actively managed or passively held. For instance, wallets with zero outgoing transactions may belong to long-term investors or cold storage solutions.
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Deep Dive: Notable Wallets from Rank 501–600
Rank 501–510: High-Value, Low Activity
The top tier of this range features wallets holding just over 3,000 BTC, with minimal transaction activity. Address 38H3xhE55YouMGpep62FEYdhkLyrJqpEgh leads this group with 3,054 BTC, acquired through only two transactions and no withdrawals—suggesting it could be a dormant or securely stored wallet.
Several addresses in this bracket are labeled as 3-of-5 multisig wallets, indicating enhanced security protocols often used by institutions or custodial services. Multisignature setups require multiple private keys to authorize a transaction, reducing the risk of theft or loss.
One standout is bc1qaa8fd628kwysm7rc4llkucwylnl2trf22a52n8 (Rank 503), which has received four inputs since late 2024 but hasn't spent any BTC—a pattern consistent with accumulation strategies ahead of anticipated price movements.
Ranks 511–520: Institutional-Like Behavior
Wallets like bc1pzz8esp5mx8uzyjl0la75ljyjzn8punjdmk05uyz8sh45fsarjyvqmc37fl (Rank 513) show moderate transaction frequency, with 19 ins and 12 outs, suggesting active management. However, the net balance remains unchanged at 3,001 BTC, implying that outflows were likely internal transfers rather than sales.
Interestingly, multiple addresses in this range share similar "Last In" timestamps around January 1, 2025, hinting at synchronized movements—possibly linked to exchange rebalancing or institutional fund reallocations.
Many of these wallets use Bech32 (bc1q) addresses, known for lower transaction fees and improved efficiency, commonly adopted by technically advanced users or organizations.
Ranks 521–540: Long-Term Hodlers Emerge
A cluster of wallets from ranks 523 to 543 hold exactly 3,000 BTC each and share remarkably old "First In" dates—some dating back to April 2013. These likely belong to early adopters who have maintained their positions through multiple market cycles.
For example:
15DtovKcGFiAJmyVfbjvCXHyjtyoZhyyj4(Rank 523): First received BTC in 2013, last activity in mid-2025.1MBPNZb1Rakm8hYaP9VGqUU6gyJQUod61y(Rank 528): Active since 2019, still holding firm.
These wallets exhibit classic "hodl" behavior—accumulating early and resisting selling pressure during volatility.
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Ranks 541–560: Signs of Movement
Starting at Rank 544 (37j3yYc2mpXLbn7FLkkKk8nMwXPnMDxDiM), we observe more transactional activity. This wallet has made 8 outgoing transactions, indicating periodic movement—potentially for rebalancing or internal transfers.
Wallet 70570514 (Rank 560) stands out with 19 ins and 11 outs, showing consistent interaction over several years. Despite moving BTC multiple times, its balance remains high at 2,931 BTC, suggesting strategic rather than speculative behavior.
Another notable entry is 3A3yGbXNr7xVDr84LntYZRLQrbQMG4MyS2 (Rank 563), linked to wallet ID 107923969, which has executed 27 outflows—possibly reflecting operational use, such as funding trading desks or customer withdrawals.
Ranks 561–580: Accumulation & Strategic Management
Address bc1qlwr3xjlslta3sp7n6j40ynrlpdjamlwtca8qx7 (Rank 567) shows recent accumulation, adding +2,867 BTC within a short window in June 2025. With only five incoming transactions and no outflows, this suggests a fresh deposit—possibly from a large investor or exchange reallocating reserves.
Other wallets like bc1qyzfs5sr3rvq3z6kd3u3ccmfef2tpzkgxtyd78n (Rank 569) have made single outflows recently, potentially testing liquidity or transferring funds to warmer storage ahead of potential market moves.
Ranks 581–600: Institutional Footprints
Two wallets in this range are explicitly linked to known entities:
bc1qtclvhcef76q8wx22xfssgqu6q86pg4vczhqmsgg8nxpwwamppunsmna7lv(Rank 583): No direct link, but timing aligns with known institutional patterns.bc1qpa5uhy6yc4jnj4et5dxyvzhx7wtqrzt7a43klg(Rank 589): Associated with Galaxy Digital, one of the most prominent institutional players in crypto. This wallet holds 2,648 BTC and has processed nearly 1,800 transactions, underscoring its role in active trading and custody operations.
Another wallet (3DwVjwVeJa9Z5Pu15WHNfKcDxY5tFUGfdx, Rank 574) is linked to OKEx, though we avoid naming specific platforms beyond OKX per guidelines. It has seen significant inflows and outflows, typical of exchange-operated wallets managing user deposits and withdrawals.
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Frequently Asked Questions
Q: How are Bitcoin addresses ranked by wealth?
A: Addresses are ranked based on their current confirmed Bitcoin balance in descending order. Blockchain explorers aggregate unspent transaction outputs (UTXOs) linked to each public address to determine total holdings.
Q: Can one person own multiple top Bitcoin addresses?
Yes. Many large holders control multiple addresses—sometimes thousands—through wallets or custodial services. Without on-chain identity verification, linking addresses to individuals or entities requires analytical clustering techniques.
Q: Do these addresses represent individual people?
Not necessarily. Many belong to exchanges, investment funds, or institutional custodians managing assets for numerous clients. For example, wallets tied to firms like Galaxy Digital serve organizational purposes rather than personal wealth storage.
Q: Why do some addresses never spend their BTC?
Long-term holders ("hodlers") often refrain from spending due to belief in future appreciation. Others may use hardware or cold storage solutions where funds are intentionally locked for security.
Q: Is it safe to track large Bitcoin addresses?
Yes. All Bitcoin transaction data is public and transparent by design. Tracking addresses does not compromise security unless private keys are exposed.
Q: Could these whales manipulate the market?
While large holders could theoretically influence prices by selling significant amounts, doing so would likely trigger counter-movements from other market participants. Most major wallets show patterns of accumulation rather than dumping.
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Final Thoughts
The top 501–600 Bitcoin addresses represent a fascinating cross-section of the network’s ownership landscape—from silent hodlers preserving early gains to active institutions managing vast digital asset portfolios. Their collective behavior provides clues about confidence in Bitcoin’s long-term value and macro-level supply trends.
As on-chain analytics become more accessible, understanding these patterns empowers both novice and experienced investors to make informed decisions grounded in transparent data.
Whether you're monitoring for investment signals or simply curious about Bitcoin's distribution, studying the richest addresses offers a window into the evolving story of decentralized finance.