Research Suggests, 55% Of The World’s Bitcoin Are Held In 1% Of Wallets
Diar, a Blockchain research unit, has presented some fascinating facts pertaining to Bitcoin circulations. The data suggest that cryptocurrency whales control more than half of the entire Bitcoin circulating supply and around 42 % of them didn’t sell during peak crypto-mania.
According to the Data gathered by Diar, around $100 billion in BTC is owned by less than1 percent of all wallet addresses. Notably, wallets with balances exceeding 200 BTC ($1.25 million) actually govern more than half of Bitcoin’s circulating supply. A third of all the Bitcoin held by whales have never been moved out of their respective wallets after purchase. Though, the research unit also notes that some of these reserves are owned by cryptocurrency exchanges.
The BTC bull in January raked a price exceeding $20,000, for which many blamed market manipulators for the hysteria that followed. The aforementioned figures are surely curiously impressive given the volatility of the token.
Diar the plausible reason behind the marginal number of sleeping bitcoin could be due to owners locked up out of their wallet after loosing their private keys or due to the bunch of very rich and patient cryptocurrency owners, who are staking out for a brighter future.
Read more: Institutions Will Favour Bitcoin, As 2020 Will Be Worse Than 2008 Recession, Says An Economist
Arshmeet Hora
The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.” Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.
