According to the new edition of the CoinMetrics State of the Network report , only 11% of the Bitcoin offer is allocated to large portfolios (which have at least one thousandth of the total BTC offer). The report also shows that the number has plummeted in recent years.
One of the best known investment strategies is the accumulation with a long-term vision – the famous “buy hold”, or, as it has become more known in this market, the ” HODL “.
As the Bitcoin halving approaches, many analysts try to use the media to have a good image of the network at that key moment for the digital asset. And one of the ways to analyze the activity of the Bitcoin network is to study the distribution of Bitcoin supplies among the portfolios.
Although the Bitcoin network began with a large concentration of assets in a few portfolios, little by little they were distributed to millions of different addresses.
According to the latest “State of the Network” report, in February 2011, 33% of all Bitcoins were concentrated in large portfolios .
This percentage dropped to only 11% in 2020, although the percentage of addresses with smaller amounts has steadily increased over the past nine years. The fall represents a 60% lower number in 2020 than in 2011.
Analysts believe that this is a positive sign and may indicate that Bitcoin is being used by more individuals over time.
The text also refers to Tether ( USDT ) – the largest stablecoin by market capitalization and has its value linked to the US dollar.
The CoinMetrics report showed that Tether was also seeing a growing distribution of its supply, especially between the Omni and ERC-20 versions.
According to the text, in January 2018 the USDT-Omni saw a trend reversal in its distribution, focusing closer to the peak of the price bubble that occurred between the end of 2017 and the beginning of 2018
Experts believe that the increase in the distribution of Bitcoins among portfolios may mean an increase in the number of users and an increase in the adoption of Bitcoin and the cryptocurrency space as a whole.