The race to own 1 Bitcoin (BTC) is on. Addresses holding at least 1 BTC represent 95% of Bitcoin’s market capitalization. Their number has increased over the years – with some drops marking this uptrend.
1 BTC for the 95%
On November 27, 2020, Glassnode CTO, Rafael Shultze-Kraft, shared in a tweet, a graph indicating that more than 800,000 addresses BTC now hold at least 1 BTC – wholecoiner addresses or wallets.
Wholecoiners represent 95% of the market cap of Bitcoin. Wallets with less than 1 BTC therefore weigh less than 5% of the market capitalization of Bitcoin. The number of wholecoiner addresses has grown steadily every year since 2009.
According to data from Bit Info Charts, wholecoiner addresses are worth around $ 301 billion in Bitcoins. Addresses with less than 1 BTC are worth $ 16 billion.
The number of wholecoiners had registered a big drop of 13.5% in early 2016; it had then fallen from 520,000 to 450,000. This number stagnated during 2018, fluctuating between 690,000 and 720,000.
Even fewer or more wholecoiners with whales?
Bitcoin reached a new ATH on December 1, 2020, without touching $ 20,000. It had suffered a crash on November 26, 2020, reducing its price to the level of 16,000 USD.
The BTC is trading at $ 19,219 as of this writing. Institutional investors like MicroStrategy, Grayscale, Square and PayPaThese are the source of the current bullish rally.
They absorb most of the Bitcoins in circulation. Will the arrival of new whales increase or decrease the number of wholecoiners?
The PlanB-ists expect a Bitcoin beginning its ascent to 100,000 USD and above in 2021.
Those who want to accumulate Bitcoin every day without thinking about it will find their happiness in these 3 crypto investment packs. Bitcoin took 3 years to hit a new all-time high. BTC could start further parabolic highs if it breaks above $ 20,000, a rally that would take it to levels well beyond. It will then be more and more difficult to buy 1 BTC, especially with institutions that invest millions of dollars in Bitcoin every month. Bitcoin is becoming the playground for big wallets, small wallets will need to find other ways to take advantage of 6-digit Bitcoin.
Litecoin, welcome in the Silver Age