The number of people who own an entire Bitcoin (BTC) is steadily increasing. In addition, the active BTC addresses are reaching a new all-time high – what does that mean for the decentralization of Bitcoin?
New data indicate that so-called „Wholecoiner“, i.e. people who own a whole Bitcoin or more, currently make up 95 percent of the total capitalization of BTC. The remaining five percent, who own less than one bitcoin, are divided between over 10,000,000 addresses.
In addition, the number of those who own a whole unit of digital gold has increased dramatically since 2009. According to Glassnode More than 800,000 addresses now hold at least one whole BTC:
Glassnode: Wallets with at least one BTC
This development indicates that Bitcoin Trader is becoming increasingly decentralized, as the BTC supply is distributed over several addresses and there are more and more people who own a whole BTC. In addition, the number of Active BTC addresses is at a new all-time high:
IntoTheBlock: Daily active BTC addresses
This makes it more likely that individual Bitcoin whales can influence the BTC rate less and less. Nevertheless, of course, you don’t know whether some people have multiple wallets. Therefore, it may well be that the true distribution of BTC is more centralized than these data suggest.