0.01% People Control Bitcoin: 27% of the total number of coins is in their hands

Although the popularity of cryptocurrencies is growing and more and more money is being invested in this market every year, a small number of people control almost a third of the total circulation of Bitcoin coins.

No one disputes that 2021 was important for Bitcoin.

Big price changes, legalization of this currency in El Salvador, more and more politicians and celebrities are receiving part of their salary in digital currencies, which means a lot for the process of global adoption of cryptocurrencies.

According to research conducted by the National Bureau of Economic Research, a non-profit organization from the USA, most Bitcoin coins are in circulation – about 75% “move” from one exchange office to another, and a small number of large wallets control more than a quarter of circulating parts.

Together with a survey conducted by the Wall Street Journal, the largest 1,000 investors control about 3 million, or 16% of the total circulation of Bitcoin coins, while the 10,000 largest investors hold about 5 million, which is about 27% of the Bitcoin circulation.

The research looks for data from June, when there were about 18.7 million Bitcoin coins in circulation and 787,000 active wallets, while recent data show that in the meantime another 200,000 Bitcoin coins have been excavated, which together hold about 733,000 active wallets.

This year alone, over $30 billion of capital has been invested in digital currencies, blockchains, metaverses, and other related projects, a significant figure that speaks to the popularity of blockchains and derivatives.

This year, in addition to cryptocurrencies, financial services, art, games, NFT, Web 3.0, decentralized social networks, and much more were included in the story, creating fertile ground for future investments.

On the other hand, although decentralized by nature, with such a large amount of circulation concentrated in a small number of individuals, Bitcoin cannot escape centralization, which all today’s financial instruments of capitalism naturally strive for.

Chris Jordan

Back to top