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There are more than 13,000 Bitcoin addresses worth $ 1 million

July 12, 2020

According to Glassnode data, there are over 13,000 Bitcoin addresses (BTC) worth at least $ 1 million.

107 BTC becomes a millionaire

At current prices Around 107 BTC are needed for an address to become a millionaire in dollars. Since this metric is tied to Bitcoin’s dollar price, it tends to fluctuate widely. For comparison, the number of addresses that contain at least 100 BTC has a much lower volatility.

Bitcoin addresses with ≥ 100 BTC v. Addresses with a BTC value of ≥ $ 1 million

There are more than 13,000 Bitcoin addresses worth $ 1 millionThere are more than 13,000 Bitcoin addresses worth $ 1 million

Bitcoin addresses with ≥ 100 BTC v. Addresses with ≥ USD 1 million in BTC. Source: Glassnode

BTC-rich addresses

We can see that the number of addresses with balances greater than $ 1 million peaked historically during the upward trend in 2017, while the other metric was not significantly affected. This is still one of the few indicators in the Bitcoin world with very little variation over the years.

Another possible reason is that some of these addresses are controlled by large companies like stock exchanges and custodian banks that don’t like to move away from a given distribution of their Bitcoin. It should also be noted that there are over 1 million Bitcoin that were probably mined by the creator of Bitcoin, Satoshi Nakamoto. These coins have not moved in over 10 years.

How many Bitcoin millionaires are there?

So, How many Bitcoin millionaires are there? The reality is that we don’t know. To answer this question, we need to know how many people or organizations control these 13,290 addresses. Theoretically, this number could be between 1 and 13,290.

Although it is possible to apply data analysis heuristics to Bitcoin’s addresses and transactions to reduce this number a bit, this full data set is currently unavailable.