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As bitcoin trades above the $ 20,000 handle, on-chain data shows that the number of bitcoin addresses holding at least $ 1 million has grown significantly by over 150%. Additionally, statistics from Glassnode indicate that around 1.85 million bitcoins have not budged in over a decade.
At the time of publication, bitcoin (BTC) is hovering just below the $ 23,000 handle, with the price hitting an all-time high of $ 23,777 the other day. Onchain data shows the infamous bitcoin-rich list has grown a lot this week.
On December 17, 2020, Glassnode researchers tweeted about the “number of bitcoin addresses holding at least US $ 1 million” and said the metric “has gone parabolic.”
Glassnode added:
It grew 150% to 66,540 addresses, ”added Glassnode. “Why? [Bitcoin] The $ 20,000 crossing turned all of the first miners’ addresses (50 BTC block rewards, unspent or lost) into millionaire addresses.
At current exchange rates, a person needs almost 44 BTC to be a millionaire. Statistics from bitinfocharts.com’s Top 100 Richest Bitcoin Addresses list show that addresses with 10-100 BTC equals 138,068 addresses, meaning that just over 71,000 Bitcoin addresses are not millionaire accounts. Then there are 13,835 bitcoin (BTC) addresses with $ 2.2 million (100 BTC) or $ 22.7 million (1,000 BTC), according to today’s statistics.
In addition to the growth of millionaire addresses, the Glassnode data which shows the total supply of Bitcoin and active coins for the last time in over a decade. The data shows that 10% or 1.85 million BTC of the 18.5 million in circulation has not budged for over a decade.
The coins could be old school holders expecting much higher prices. Lots of coins could be lost and Satoshi Nakamoto’s infamous stash hasn’t budged for ten years either. Although, of the 1.85 million that remained for ten years or more, “1.78 million bitcoins never left their miner address,” said Glassnode.
“This represents 9.5% of the supply of bitcoin in circulation,” the onchain researchers tweeted on Friday. “Our analysis shows that 98% of these coins were mined more than 7 years ago and 94% more than 10 years ago. Most could be lost forever. “
There are only 2,192 addresses with $ 22.7 million (1,000 BTC) to $ 227.5 million (10,000 BTC) today. 105 bitcoin addresses have $ 227.5 million (10,000 BTC) to $ 2.2 billion (100,000 BTC).
There is only one bitcoin address today, with between 100,000 and 1 million coins, and the address has 141,452 BTC worth over $ 3 billion using current exchange rates.
What do you think of the growing amount of millionaire bitcoin addresses and unspent coins over the past decade? Let us know what you think of this topic in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons, Glassnode, Twitter,
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