Bitcoin is becoming distributed with the number of addresses that hold any BTC now reaching an all time high of nearly 30 million.
Only 20 million of those have $1 worth of bitcoin or more, while some 6.5 million addresses have some amount of up to $100.
According to blockchain analytics, the number of “reasonably” invested addresses stands at just 2.3 million with $1,000 or more.
Of those, only around 500,000 addresses have 1 bitcoin or more with even less having $100,000 worth.
The top 10 addresses have only 5.67% of the entire bitcoin wealth. They’re mainly exchanges, meaning they hold the bitcoin of many individuals with Coinbase alone having millions of customers.
The top 10,000 addresses, however, have close to 58% of all the bitcoin. That makes this a bit more distributed than fiat, but still very concentrated.
The reason might be because getting bitcoin even by just mining it with a laptop was fairly easy initially, with some of the top addresses seeing no activity even as far back as 2010.
That 1Fee address has been a matter of curiosity and speculation for long, with just the top 100 addresses of bitcoin that have not moved in the past five years accounting for some ₿600,000.
In total, ₿3.91 million bitcoin has not moved since December 2014 according to blockchain data.
Quite interestingly, it appears only 500,000 bitcoin has moved in the past five months, that being worth some $3.6 billion, with these potentially exchanging hands very often.
However, 8 million bitcoin has moved in the past year, so there was considerable activity in the first half, but not much in the second half.
We’d estimate another 2 million bitcoin are on exchanges, worth about $10 billion, with these mainly setting the price.
So bitcoin is seeing some reasonable level of commercial activity, but most of it is holding or trading.