January 27, 2023

The number of addresses with a balance of more than 1000 BTC is growing at a pace until 2014

The concentration of capital is growing in the Bitcoin blockchain: the number of addresses containing more than 1000 BTC ($ 8.3 million for the current exchange rate), in 2019 increases at the same rate as in 2010-2013.

Bitcoin address balance growth chart,published by analyst Willy Woo (Willy Woo) shows that the network is now repeating the trend of the earliest years. Wu took the source data from the Glassnode analytic resource.

According to Wu, a new round of growth in the balance of addressesat much higher prices than five years ago, suggests that wealthier investors are coming into the industry. If those who had more than 1000 BTC before 2014, mainly purchased cryptocurrency for technical interest, then the incentives in 2019 are purely financial. Wu concluded:

“It seems to me that Bitcoin is experiencing anotherthe renaissance, driven by the influx of capital from highly profitable investors, while previously the growth in the balance of addresses was associated with technically savvy users who launched the network. ”

The data indicate that the current growth trend in the number of addresses whose balances exceed 1000 BTC, intensified in early 2019.

As reported in the summer, the number of bitcoins that have been in wallets without movement for more than 5 years has reached record heights - about 21.6% of the coins can be called “untouchable”.