Bitcoin’s wallet distribution
The Bitcoin blockchain is very transparent, so if you have the knowledge and curiosity, you can figure out some interesting things from it.
There are 25.142.625 Bitcoin wallet addresses in the world today, according to the best data we could get. This figure accounts for everybody who owns any amount of bitcoins from a single Satoshi to hundreds of thousands of full bitcoins.
The majority of holders own a thousandth of a Bitcoin or less. 12.120.897 wallets are in this set for a total of 2.458,00 BTC in total. They’re a lot, almost half of the world’s BTC wallets, but they account for only 0.01% of the tokens available in the world.
On the opposite edge, we find four wallets only, which hold 441.120 Bitcoins in total. This segment could seem spectacular because these are the biggest whales, but they don’t hold that many coins either. Their coins are 2.49% of the market. The number of wallets that holds at least one entire Bitcoin is of 733.000 roughly, which is very close to three-quarters of a million. It’s a sizeable portion of the user-base as it accounts for 97% of all users.
We could keep throwing more numbers at you, but it’s beside the point. The distribution of BTC in the world’s wallets is pretty much the same as the wealth distribution of any asset in the world so if you should look at gold, palladium, Ethereum, or anything else you’d see more or less the same distribution and proportions.
Bitcoin is viral
The critical idea that hides behind the numbers is all about adoption.
We can’t know how many persons are behind each wallet address. A single user can have many active wallet addresses. On the other hand, a single address could account for the digital economic activity of more than one person (a pool of sorts), so the number of wallets doesn’t give us an accurate way to estimate how many people in the world are using Bitcoin.
But there’s one thing that we can say for sure. Adoption is growing. In roughly ten years, Bitcoin has gone from one user to 25 million. The trading volume has gone from nothing to one equivalent to that of Visa or Mastercard. The price has gone from cents to USD 7.923,24 as we write this. In other words: the Bitcoin virus is spreading all over the world.
And it’s about to get even more virulent, or as millennials say in these times, it will go more “viral”. General interest in Bitcoin soars when the market is in extreme situations because the non-crypto press loves to cover Bitcoin when the market is both at its worse and at its best. In the first case, that attention doesn’t attract many new Bitcoin users, but the opposite is true for the second case.
And Bitcoin has been at its best because the new bullish run is most probably here already (yes, the market is going down two days again), and it’s undoubtedly going to last for a time. So the fresh rain of green numbers will bring a lot of new users into the crypto verse for sure, and that number of wallets, which is already considerable, can only grow more.
And you? Are you infected already?
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.