Majority of circulating bitcoins stored in Investment wallets

By Ravindra Chagetha

According to a recent report, the majority of circulating Bitcoins are stored in the long-term investment wallets. The investors are not in a hurry to cash out the bitcoins.

Over 55% of bitcoins are kept in the wallets which have more than 200 bitcoins. The total worth of these coins is over $1.3 million. Despite the bear market, long-term investors have faith in the cryptos. Data acquired by Diar shows that 27% of these wallets are continually acquiring more and more bitcoins. The owners of these wallets have never used 1/3 of Bitcoins of these wallets for any transaction since the Bitcoin price peak in December 2017 either because of lowering real supply, lost private keys, or a very strong resolve by crypto believers. 87% of total bitcoins are held by the wallets which have more than 10 bitcoins. The total value of these wallets is around $100 billion while the total market capitalization of the bitcoin is $109 billion. 62% of all bitcoins are held by the wallets which have more than 100 bitcoins.

According to the study conducted by crypto industry and analysis newsletter Diar, around 25% of the bitcoins are stored in the wallets which were created before the price peak of 2017. A quarter of all bitcoins is stored as a long-term investment. Cryptocurrency exchanges are in the list of top bitcoin holders. 3.8% or $4.2 billion value of total bitcoin supply is held by the wallets of top five cryptocurrency exchanges.

To introduce the digital currency scarcity, Satoshi Nakamoto has capped the supply of the bitcoin to 21 million in the protocol. The scarcity of bitcoins will create demand for the digital currency so in future bitcoins will become more valuable. Till January this year, 16.8 million or 80% of the entire bitcoin supply has been mined. Now only 20% or 4.3 million bitcoins are left for mining. Once the mark of 21 million of bitcoin will reach it will become difficult to obtain bitcoins. Currently, the market capitalization of the bitcoin is around $109 billion.

Ravindra Chagetha

His interests and the desire to learn something new cannot be neglected as he is always keen to learn new things.

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