97.3% of Bitcoin wallets hold under 1 BTC
Balances of 10-100 BTC make up 0.45% of the total, while even wallets between 1-10 BTC contribute just 2.17%.
While it should be assumed that individuals’ holdings are often spread between multiple wallets, the figures imply that at current prices, $91,000 is sufficient to place the holder well within the minority of large BTC holders.
Wallets with much larger balances — exchanges and a small number of Bitcoin whales — also sway the statistics. There are now just over 30.4 million addresses with a balance, up from around 25 million at the same point in 2019.
Total Bitcoin addresses with a balance. Source: Glassnode
Macro factors point to bigger uptake
As Cointelegraph reported, wallets holding certain balances have also hit new highs this year. Those containing at least 1 BTC were on target for 800,000 in March, indicating that at best, just that number of people controlled an entire Bitcoin.
Since the stock market meltdown, from which Bitcoin bounced back completely within weeks, exchanges have signaled that a fresh influx of interest has fuelled growth.
Elsewhere, frustration with fiat currency is leading to the desire to own Bitcoin increasing. As reported earlier this week, Lebanese employees appear to be overwhelmingly in favor of earning in BTC, not the Lebanese pound or even the U.S. dollar.