BitInfoCharts’ data showcases that 1 million addresses are currently holding more than $10,000 worth of Bitcoin.
With small and big investors picking their share of Bitcoin, it is true that the appeal of the world’s oldest crypto is catching up especially in the last one month.
1 million addresses don’t convert into 1 million people
BitInfoCharts have provided some encouraging data that is just on the back of Bitcoin’s recent price rally. The popular data provider has ascertained that there are more than 1 million wallets currently holding more than $10,0000 worth of Bitcoin. As of now the current list of addresses that are holding the amount stands at 1,095,150.
Source: BitInfoCharts
Robust growth figures
There has to be some clarity with respect to the address data. The 1 million does not count over one million people holding over $10,000 worth of Bitcoin because one individual can have multiple Bitcoin addresses. On the other side of the coin, most of the Bitcoin held in the largest addresses is currently owned by a lot of people who are holding funds on exchanges. But for Bitcoin, this new data trend represents a huge push in its value in recent times, more so as it coincides and relates to the increase in the price of Bitcoin. In the last one month, Bitcoin has been a goldmine of sorts showing a robust growth figure of 46% to its current value of $15,698.11.
Source: CoinGecko
Bitcoin is exhibiting a 24-hour trading volume of $33,164,570,345. Although BTC price is down -1.1% in the last 24 hours the growth as shown in the graph above shows the encouraging trend towards up north.
The figures clearly indicate how Bitcoin addresses are split amongst the richest of them all, but it is also now clear that it is distributed amongst those who even own a modest amount of Bitcoin which is an important developmental trend. It also needs to be known that about 48% of the wallets amounting to 16 million wallets are currently holding between 0 and 0.0001 Bitcoin. Approximately 25% of Bitcoin holders are a little above this category which is 8 million wallets that are holding between 0.001 and 0.01 Bitcoin.
HNI’s are relying on Bitcoin
High net worth investors have clearly shown a lot of interest in Bitcoin lately. In the last few weeks Square, Microstrategy, and recently Grayscale has bought 40,0000 BTC worth more than $600 million for its investors because of the potential it possesses. The message is clear and loud, the Bitcoin trend is catching up with even the most modest investors and this is a good sign for the big rally ahead.
Disclaimer
The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.
