June 18, 2024

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

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

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

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According to Wu, a new round of growth in the address balanceat significantly higher prices than five years ago, suggests wealthier investors are entering the industry. If those who had more than 1000 BTC before 2014 mainly purchased cryptocurrency out of technical interest, then the incentives in 2019 &#8212; 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 lying in wallets without movement for more than 5 years has reached record highs - about 21.6% of coins can be called “untouchable”.

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