0.01% of Bitcoin holders control 27% of the currency in circulation

According to the Wall Avenue Journal, 0.01% of Bitcoin holders control 27% of the currency in circulation. This was an important year for the introduction of Bitcoin.

Despite increasing acceptance, 27% of the Bitcoin supply is stored in 10,000 whale wallets

According to a report by the National Office of Economic Research, most of the volume, about 75% of it, is transferred from one exchange to another, and a fairly small number of the more affluent wallets control them. .

New inaccurate reporting. It was a working paper published on the NBER website in October using data collected by the end of June. But its results were hit this morning when the Wall Avenue Journal reported that 0.01% of Bitcoin holders control 27% of the currency in circulation.

Currently, the top 1000 investors control about 3 million, or 16%, of all bitcoins in circulation, and the top 10000 investors own nearly 5 million, or 27%, of bitcoin. When the researchers compiled their data at the end of June, there were around 18.7 million Bitcoins in circulation and 787,000 active wallet addresses, according to Glassnode. There are currently 18.9 million bitcoins in circulation and 733,000 active addresses.

BTC / USD 4-hour chart | Source: TradingView

And Bitcoin price, which stood at $ 34,493.20 in June, is up around $ 13,000 to $ 48,608 at the time of this writing.

“Our data encompasses 1,043 different entities,” write Igor Makarov from the London School of Economics and Antoinette Schoar from MIT’s Sloan School of Management. This includes 393 exchanges, 86 World Wide Web gambling sites, 39 online wallets, 33 payment processors, 63 mining pools, 35 fraudsters, 227 ransomware attackers, 151 darknet markets and illegal services. ”

But the apparent concentration of wealth hasn’t dampened the interest of investors looking for the next big thing on the blockchain.