0.1% of all Bitcoin Wallets Hold More Than 60% of the Supply
Diar, a Crypto research group has come up with a report on the ownership of Bitcoin (BTC), which suggests that over 55% of Bitcoins sit in Crypto wallets that have a balance of over 200 Bitcoin(Over $1.2. Million). Only 0.1% of all addresses contain 62% of all outstanding Bitcoins.
The research shows a great amount of concentration of Bitcoins in a few addresses (Whales), some of which are early ones who have lost their private keys or have never made any transactions from those addresses (True HODLers).
According to the research: “over 87% of Bitcoins are stored in wallets that are above 10 Bitcoins ($60K+)” whose coins sit in only 0.7% of the total addresses, wallets with over 100 Bitcoins account for 62% of outstanding supply whose coins sit in only 0.1% of addresses.
Diar’s Estimate of Bitcoin Distribution
Diar estimates the 21 Million Bitcoins to be distributed as follows:
Exchange Wallets (15%)
Lost and Illiquid (30%)
Investment and Speculative (17%)
Long-Term Investment (25%)
Exchange wallets and HODLers
It is important to note that most retail investors hold their Crypto in exchanges who might only have a few addresses in cold storage, which means that there might be lesser addresses than the number of users, but a single person can have multiple addresses and non-functional addresses created which makes it difficult to put an exact estimate on who owns what addresses.
Diar estimates that the top 5 major exchanges hold 3.8% of the total Bitcoin supply in their wallets, amounting to around $4.2 Billion.
It also notes that an amazing 42% of Bitcoins held in investment wallets have not made any outgoing movements since the December 2017 peak, in fact about 27% of them have been stacking more Bitcoins into those wallets.
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