Wallets with less than 1 BTC account for just 5% of Bitcoin’s market cap

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Wallets with less than 1 BTC account for just 5% of Bitcoin’s market cap

New data suggests that “wholecoiners” — Bitcoin wallets holding 1 BTC or more — now account for 95% of the cryptocurrency’s entire capitalization. That leaves just 5% of the market cap divided among tens of millions of users with a balance below 1BTC.

The total number of wholecoiner addresses has steadily increased year-over-year since 2009, despite BTC's astronomic price rallies. On Nov. 27, Glassnode CTO Rafael Shultze-Kraft tweeted a chart revealing that more than 800,000 addresses currently hold at least 1 BTC.

According to Bit Info Charts, wholecoiner addresses represent around $301 billion worth of BTC. By contrast, the current combined value of less-than-wholecoin addresses is $16 billion.

A linear chart reveals few retracements in the history of wholecoiners, with the largest dip coming in early 2016 when the number of addresses holding at least 1 BTC fell by 13.5%, from 520,000 to 450,000.

The year 2018 also saw wholecoiner growth stagnate, with the number of addresses oscillating between roughly 720,000 and 690,000 for 12 months from December 2017.

https://cointelegraph.com/news/wallets-with-less-than-1-btc-account-for-just-5-of-bitcoin-s-market-cap