Bitcoin: Small hodlers have never collected so much

Bitcoin: Small hodlers have never collected so much

Small bitcoin holders are benefiting from accumulating balances like never before. More than one BTC now holds more than a million addresses.

Bitcoins are streaming

Addresses containing between 0.01 and 10 bitcoins have accumulated nearly 250,000 bitcoins in the past month.

The number of housing addresses greater than 1 BTC has just crossed the 1 million mark. Best of all, over four million addresses have over 0.1 BTC.

Number of BTC addresses that have 0.1 BTC
Number of BTC addresses with more than 0.1 BTC

The number of BTC accumulated by the plebs this month is nine times the number of BTC mined in the same time.

Remember that 6.25 BTC are created in each block, every ten minutes on average. So that it creates about 900 BTC per day. That’s 27,500 bitcoins in the last month.

So the little hodlers took 900% of the BTC created last month. This is a historical record.

Running Bull Night?

Glassnode noted last week that all addresses (regardless of how much BTC they contain) have recently started to accumulate.

Even goes over 10,000 BTC (“whales”) which has been selling strongly since September is starting to accumulate:

bitcoin accumulation trend score
Red = sell trend / Blue = build trend / Source: Glassnode

In addition, more and more bitcoiners scalded by the FTX affair are actually taking possession of their bitcoins. More than 109,000 BTC have left the exchanges in the last thirty days. This is revealed by the site coinglass, which monitors the public addresses of the exchanges.

According to the chain analysis firm GlassNode, the illiquid bitcoin supply is now at 78%. In other words, 78% of BTCs are held by entities that have not experienced a separation with them.

So about 15 million BTC is safe and basically being held in its own right, on its own wallet.

Not your key, not your Bitcoin!

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Nicolas Teterel avatar
Nicolas Teterel

Journalist reporting on the Bitcoin revolution. My papers deal with bitcoin through geopolitical, economic and libertarian prisms.

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