While bitcoin transactions exceed the $ 20,000 limit, onchain data shows that the number of bitcoin addresses holding at least $ 1 million has increased substantially by more than 150%. Moreover, Glassnode statistics indicate that approximately 1.85 million bitcoins have not moved for over a decade.
At the time of publication, bitcoin (BTC) is hovering just below the threshold of $ 23,000, as the price reached an all-time high of $ 23,777 the past few days. Onchain data shows that the infamous bitcoin-rich list has grown a lot this week.
On December 17, 2020, Glassnode researchers posted on Twitter about “the number of bitcoin addresses holding at least $ 1 million” and said the metric “has become parabolic.”
Glassnode added:
It increased + 150% to 66,540 addresses “, added Glassnode. “Why? [Bitcoin] crossing $ 20,000 turned all early mining addresses (50 unused or lost BTC block rewards) into millionaire addresses.
At current exchange rates, a person needs almost 44 BTC to be a millionaire. Statistics from the top 100 richest bitcoin address lists on bitinfocharts.com show that addresses with 10-100 BTC are equal to 138,068 addresses, which means that a little over 71,000 bitcoin addresses are not millionaire accounts. Then there are 13,835 bitcoin (BTC) addresses with $ 2.2 million (100 BTC) or $ 22.7 million (1,000 BTC), according to today’s statistics.
In addition to the growing millionaire addresses, Glassnode data showing the total supply of bitcoin and currencies that have been active for the last time in over ten years. The data indicate that 10% or 1.85 million BTC of the 18.5 million in circulation have not moved for more than a decade.
Coins could be old school holders expecting much higher prices. Many of the coins could be lost, and Satoshi Nakamoto’s infamous stock has not moved in ten years. Although, of the 1.85 million who stayed for six years or more, “1.78 million bitcoins never left their mining address.” say Glassnode.
“This is 9.5% of the bitcoin supply in circulation,” onchain researchers wrote on Twitter. “Our analysis shows that 98% of these coins were extracted more than 7 years ago and 94% more than 10 years ago. Most could be lost forever. “
There are only 2,192 addresses with $ 22.7 million (1,000 BTC) to $ 227.5 million (10,000 BTC) today. 105 bitcoin addresses have $ 227.5 million (10,000 BTC) to $ 2.2 billion (100,000 BTC).
Today there is only one bitcoin address, with between 100,000 and 1 million coins, and the address has 141,452 BTC worth over 3 billion USD, using today’s exchange rates.
What do you think about the growing number of millionaire bitcoin addresses and unspent coins in the last decade? Tell us what you think about this topic in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons, Glassnode, Twitter,
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