The number of addresses that own more than 1 Bitcoin has doubled since 2016 and is now approaching the million. The Bitcoin blockchain makes it possible to analyze the investor base of the digital currency in detail. This fact tells us that there are more and more investors who collect Bitcoin and manage to buy 1 whole Bitcoin together.
Nearly 1 million
If you are a lover of on-chain data, then Glassnode is the party to follow. They now know how to report that the number wholecoiners has doubled since 2016. This has therefore taken a period of about 7 years.
During Bitcoin’s last bullish cycle in 2021, the number of wholecoiners hit around 800,000. But that number has increased quite a bit in the severe bear market we experienced in 2022 and investors have continued to buy Bitcoin steadily in 2023 as well.
Binance and its CEO Changpeng Zhao also report the special statistic, of course based on the data from Glassnode. Changpeng Zhao tells us that there are about 56 million millionaires in the world, which makes it all the more extraordinary that there are only 1 million people with 1 whole Bitcoin.
In the end, with all 21 million Bitcoin, there are not even enough to provide every millionaire with 1 Bitcoin. In that respect, you could say that with the current price of $ 28,000 and the degree of adoption, we are really still at the beginning of the decentralized revolution.
The scarcity of Bitcoin
The scarcity of Bitcoin only really becomes clear if you distribute all 21 million Bitcoin over the entire world population. Then every person on Earth could own about 0.002616 Bitcoin. You can now buy it for about 73 dollars.
So for the amount of $ 73 you could get your share of the Bitcoin pie today. This also shows that the global adoption of Bitcoin is not too bad.
Another Bitcoin halving is scheduled for March 2024, reducing the reward for miners for finding a block from 6.25 to 3.125 Bitcoin. The four-yearly halving ensures that the scarcity of Bitcoin continues to increase.