Fewer and fewer Bitcoin wallets hold less than 1 BTC

Only 5 percent of Bitcoin’s market capitalisation is now distributed among wallets holding less than 1 BTC.

New data show that Bitcoin wallets holding more than 1 BTC, so-called „Wholecoiners“, now account for 95% of Bitcoin’s total market capitalisation. This means that less than 5% is now spread over a broad mass of crypto investors holding less than 1 BTC.

The number of Wholecoin addresses has risen steadily since 2009, even though the market-leading crypto currency had Bitcoin Loophole repeatedly reached astronomical heights in the meantime. Nevertheless, investors seem to have long-term intentions and prefer to save their Bitcoin assets.

Their conviction should be interpreted as a positive sign

Rafael Schultze-Kraft, CTO of Glassnode, accordingly pointed out today, November 27, that more than 800,000 wallets now have at least 1 BTC.

The number of #Bitcoin „wholecoiner“ addresses (holding ≥ 1 BTC) on this day every year

Data: https://t.co/VJm4nRFKp8 pic.twitter.com/6VJff2vB3r
– Rafael Schultze-Kraft (@n3ocortex) November 26, 2020

According to the Bit Info Charts, the total value of all Wholecoiners amounts to US $ 301 billion, whereas Wallets with less than 1 BTC only have a market share of US $ 16 billion.

The number of wholecoins has steadily increased over the lifetime of Bitcoin, with the only significant downturn in early 2016, when the number of wallets with more than 1 BTC fell by 13.5%. This corresponded to a decline from 520,000 to 450,000 addresses.

In 2018, growth had again stagnated, with the number of Wholecoin wallets fluctuating between 720,000 and 690,000 addresses over 12 months.

The data from Into The Block also shows that 32.95 million addresses hold Bitcoin. Thus, although the wholecoins account for the vast majority of the market capitalisation, they represent only 0.47% of all wallets.