October 22, 2020

The number of Bitcoin millionaires has increased by 30% over the past year

The number of Bitcoin millionaires has increased by 30% over the past year

Between September 2018 and November 2019, the number of Bitcoin wallets that are not stored increased by 30% less than 1000 BTC. Cryptocurrency whales continue to build up coin reserves ahead of the halving scheduled for May 14, 2020.

At the moment, 2148 are recorded in the blockchainaddresses with a balance of 1000 BTC. The statistics do not take into account crypto-warehouses belonging to trading floors, therefore it can be argued that private or institutional investors own digital assets. In the last quarter of 2018, the price of Bitcoin fell from $ 6,400 to $ 3,100. In this regard, experienced traders actively bought a coin at a low rate, which subsequently led to an increase in the number of millionaires.

However, the reason for the increase in the number of richaddresses could serve as a trivial distribution of coins. For example, one person who owns 50,000 BTC transferred 1,000 coins to 50 different wallets. Therefore, the actual number of large investors could not change. Trader Alex Kruger noted that over the past year, the volume of transactions in Bitcoin has not increased, in addition, money is rarely withdrawn from wallets with the largest number of coins and deposits are often made. As a result, Krueger suggests that many crypto-stores are owned by exchanges and custodial service providers.

The number of Bitcoin millionaires has increased by 30% over the past year

Messari crypto startup director Kiao Wangbelieves that the number of millionaires has increased, and explains this trend by a natural redistribution of assets: “Initially, Satoshi Nakamoto owned all the Bitcoin coins, then part of the BTC passed into the hands of miners. Over time, the proportion of coins they own has declined, and other people have entered the market. ”

Large investors are interested in Bitcoin inLargely thanks to the Bakkt platform, which was launched in October 2019. On-site trading in deliverable futures contracts on BTC. During the last Bitcoin exchange rate pump (from October 25 to 26), the trade volume at Bakkt increased by 250% and reached $ 11 million per day. On December 8, the company plans to list options on Bitcoin futures. Contracts will be settled in fiat currency or BTC.