55% of All Bitcoin Supply Belongs to Crypto Whales


More than 55 percent of circulating Bitcoins are held in wallets containing at least over $1 million worth of coins in the last 11 months when Bitcoin’s price has exceeded its $5,000 mark, Diar reported September 17.

Notably, over a third of the Bitcoins held by these crypto “whales” have remained static, i.e., these wallets have never made an outgoing transaction, which may be indicative of either lost private keys, diminishing real supply or simply a solid resolve to invest for the long haul.

As the report further detailed, over 87 percent of Bitcoins are currently sitting in wallets that hold a minimum of 10 Bitcoins pegged at around $60,000. Interestingly, these coins are held in only 0.7 percent of all Bitcoin addresses. Similarly, roughly 62 percent of all Bitcoins sit in wallets with a balance of over 100 coins equivalent to around $640,000 belonging to less than 0.1 percent of all addresses.

Other than the portion of coins which most in the crypto community believed to be the property of Satoshi Nakamoto, the remaining fraction would appear to belong to the first few crypto adopters who have invested in the industry in its early years.

While the majority of the circulated Bitcoins mostly belong to astute investors, 3.8 percent of the total Bitcoin supply is currently held in five wallets purportedly managed by some of the largest crypto exchanges.

In a report previously published in April by Blockchain analytics firm Chainalysis, it was discovered that over a third of today’s Bitcoin supply belongs to only around 1,600 individual investors.

In addition, Diar also noted that 42 percent of Bitcoins kept in digital wallets containing over 200 Bitcoins did not make any outgoing transactions during the market’s peak in December last years. In fact, 27 percent of the aforementioned wallets added even more coins to their accounts thereafter. The findings yielded from Diar’s report clearly indicate that early adopters of cryptocurrencies see this industry as a long-term investment.