Bitcoin has stabilized above $ 10,000 this week. One bitcoin is worth $ 10,000. It looks like a pretty good amount, so you might wonder how many people hold at least 1 BTC.
Only about 2% of Bitcoin addresses hold 1 Bitcoin or more
First, we will check the distribution of Bitcoin against the address provided by BitInfoCharts.
- Bloomberg: Bitcoin will be in the long-term between $8,000 and $20,000
- "The Secret History of Bitcoin": Who is the largest Bitcoin holder?
- Bitfinex 2000 BTC transaction is suspected of money laundering and Mixing, multiple exchanges directly or indirectly
- Viewpoint | Is the nature of Bitcoin a consensus?
- Report: Darknet activity in 2019 is higher than in the past, how should law enforcement agencies respond in 2020?
- Analysis | After 2028, bitcoin prices will never be less than $100,000
As you can see, there are 633,008 addresses holding at least 1 BTC (a total of 1.68 million bitcoins), which accounts for 2.18% of the total number of Bitcoin addresses. However, one address is not necessarily equal to one user (because one user can have multiple addresses), so we have to dig deeper to get the range of real people holding 1 bitcoin (or more).
We already have the first case, where one person has a wallet and no less than one bitcoin. For us, this is the ideal situation-this is the most convenient way to count.
However, in the second case, the situation becomes more tricky, in which one person can own a total of 1+ Bitcoins at multiple different addresses. For example, a person may hold 0.8 BTC in one wallet, 0.2 BTC in another wallet, or 0.1 BTC each in 10 different wallets. In this case, these addresses will be less than 1 bitcoin, so they should be shown in other rows of the allocation table, which are addresses we initially ignored. In the second case, it will be more difficult to count users who have at least 1 BTC, as they may own 98% of addresses that contain any one of less than 1 BTC.
There is a third case. For example, you want us to calculate a wallet holding 10 BTC. However, it may belong to a company or association, and each member is eligible to withdraw less than 1 bitcoin from the wallet, so he / she should not be included in our list.
In any case, based on the allocation table, we can determine that there is at least 1 BTC between 500,000 and 1 million people.
What about the lost Bitcoin?
Yes-we should not ignore this aspect. If I hold 1 BTC and I happen to lose my private key, do I still have the funds? not really. If we consider lost cryptocurrency funds, we should delete 20% of the estimated number. Chainalysis stated in 2017 that about 23% of the bitcoin in circulation at that time was permanently lost.
Therefore, the total number of individuals who may own at least 1 Bitcoin is between 400,000 and 800,000.
If all 1 + BTC holders live in a community, then they will become a population with Seville, Spain (688,711), Palermo, Italy (676,118), Stuttgart, Germany (634,830), Glasgow, Scotland (626, 41) or the equivalent circle of Las Vegas (583,756).