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Over 13k Bitcoin Addresses Are Worth At Least $1 Mln.
2020-07-11 | Mike Hallen
There are over 13k Bitcoin [BTC] addresses that are worth at least $1 Mln, consistent with data from Glassnode.
BTC Addresses To Become Millionaire
At the present prices, it takes about 107 BTC for an address to become a dollar millionaire. Since this metric is tied to the dollar price of Bitcoin, it tends to fluctuate tons. For comparison, the amount of addresses that contain a minimum of 100 BTC features a much lower volatility.
BTC Adresses With Balances Over $1 Mln
We can observe that the amount of addresses with balances of over $1 Mln hit a record high during the 2017 bullish run, while the opposite metric remained largely unaffected by it. This remains one among the few indicators within the Bitcoin world with a really low variance through the years.
Another possible reason is that a number of these addresses are managed by large entities like exchanges and custodians, who don't wish to stray from a predetermined distribution of their BTC. It should even be noted that there are over 1 Mln of Bitcoin which were likely mined by Bitcoin creator, Satoshi Nakamoto. These coins haven’t yet moved in over 10 years.
What Percentage Of BTC Millionaires Exists
So the question of what percentage of Bitcoin millionaires exists, still remains? Well the truth is that we don't know. So as for us to answer this question, we might need to know how many individuals or entities manage those 13,290 addresses. This number could theoretically lie anywhere between 1 and 13,290.
Although it's possible to use data analysis heuristics to Bitcoin addresses and transactions to narrow down this number somewhat, no such complete data set is presently available.
