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Over 13,000 Bitcoin Addresses Holds $1M Worth Bitcoin

There are over 13,000 Bitcoin (BTC) addresses worth at least $1 million, according to data from Glassnode.

It takes about 107 BTC for an address to become a dollar millionaire, standing at its current price. However, since this metric is tied to the US dollar, BTC price tends to fluctuate.

There Are Over 13K Bitcoin Addresses Worth $1M There are over 13,000 Bitcoin (BTC) addresses that are worth at least $1 million, according to data from Glassnode.107 BTC to become a millionaireAt the current prices, it takes about 107 BTC for an addre… — TradingBTC (@tradingbtc1) July 10, 2020

If one has to compare this, the number of addresses containing at least 100 BTC has a low volatility.

It can also be observed that the number of addresses with a balance of over $1 million hit a record high during the 2017 bull run, while the other metric remains to be largely unaffected by it.

This is one of the very few indicators in Bitcoin world with a very low variance through the years. 

A possible reason could be that some of these addresses are controlled by major players like exchanges and custodians, as they do not like to stray from a predetermined distribution of their Bitcoin.

Besides, there are over 1 million of Bitcoin which were likely mined by Satoshi Nakamoto and these coins have not been even moved in over 10 years.

So to ponder on how many Bitcoin millionaires are actually there, it’s difficult to answer.

To know this, we would have to know exactly how many individuals or entities control those 13,290 addresses, and this number could theoretically lie somewhere between 1 and 13,290.  

Although it is possible to apply data analysis heuristics to Bitcoin addresses and transactions to somehow narrow down the number, however, no such complete data set is currently found to be available.

Source: Cointelegraph | Image: Pixabay



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