The 100 richest Bitcoin addresses are progressively more bullish, acquiring 16% more Bitcoin over the past month.

In total, these addresses added 334,000 more Bitcoin, worth around $11bn.

The majority of the top 100 richest addresses barely showed a reaction to Bitcoin’s recent price decline from $41,000 to below $33,000.

Out of these addresses that made a transaction in the past 30 days, just eight have over 10 transactions to their name since mid-December, Cointelegraph reports.

In addition, many of these large addresses have not yet seen a bull run, with eight of the top 10 receiving their first transaction after September 2018.

Not all of the top addresses are individual whales, some are controlled by exchanges whilst others are a combination of institutional investors and wealthy hodlers.

To reach the top tier of Bitcoin addresses, holders must have more than $336 million in Bitcoin, with approximately $2.2 billion needed to make it to the top 10.

Bitcoin developer Satoshi Nakamoto is believed to be within the prestigious list, the Cointelegraph report goes on to add.

The third wealthiest Bitcoin address, holding 94,506 BTC, was in the spotlight in September 2019 as Glassnode reported that 73,000 of the Bitcoin included in the wallet had been transferred from Huobi. This was thought to be the wealthiest non-exchange address.

According to data from BitInfoCharts, 64 of the 100 Bitcoin address control more than 2.5 million BTC (13.5% of circulating supply), with a value nearing $85bn, including 15 inactive addresses, with 11 being over nine years old.