$1 Bitcoin Addresses Rise Above 20 Million

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Bitcoin ticker fan "art," Sep 2019

There are now more than 20 million bitcoin addresses that have $1 or more worth of bitcoin.

More than 11 million such addresses have between ₿0.001 to 0.1 bitcoin, worth between $10 to $1,000.

Some 8 million addresses have $100 or more of bitcoin. So about 10 million have $1-$10 of bitcoin and 3 million have $10 to $100.

Bitcoin distribution according to bitinfo, Sep 2019
Bitcoin distribution according to Bitinfo, Sep 2019

There are some bitcoin millionaires with 15,000 addresses having between $1 million and $10 million or more.

Just circa half a million addresses have around one bitcoin, with most wealth concentrated in addresses that have between ₿1,000 – ₿10,000 coins.

That may be due to cold wallets which some exchanges, like coinbase, chop into chunks of ₿5,000 or ₿10,000.

Quite a bit of wealth is also concentrated in addresses that have between ₿10 – ₿100 coins, with addresses that have between ₿10 – ₿10,000 accounting for some 70% of the bitcoin wealth.

That’s in total about 150,000 addresses, with one address able to hold funds that belong to many individuals, just as many addresses can belong to one individual.

So it isn’t very easy to discern wealth distribution from the above data because many just keep their coins on exchanges with a number of the top addresses being exchanges.

Top bitcoin addresses, Sep 2019
Top bitcoin addresses, Sep 2019

All of the addresses that control more than 100,000 bitcoin belong to exchanges, with a big address in general more likely to belong to an exchange or service provider.

Addresses that have 1 – 100 bitcoin, on the other hand, are probably ordinary individuals with about one million such addressees accounting for some 35% of the total wealth.

Making bitcoin a lot more distributed than it used to be and far more distributed than other cryptos where wealth in general is significantly more concentrated.

Copyrights Trustnodes.com

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