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Bitcoin Addresses Holding 1 Billionth Of Max Supply Are Getting Closer To 6 Million

ยท in Breaking, Crypto News
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

The number of Bitcoin (BTC) addresses that hold 1/1,000,000,000th of the total Bitcoin supply is currently reaching 6 million. This is according to Coin Metrics Data Pro that provides information about the whole cryptocurrency market. That means that a user would have to hold 0.021 BTC, or close to $220 at the time of writing this article. 

Bitcoin Continues Expanding

As the cryptocurrency market expands, the number of addresses holding at least 0.021 BTC is growing. A Redditor shared a chart created by Coin Metrics in which it is possible to see that the number of Bitcoin holders of 0.021 BTC is close to reaching 6 million. 

If we divide the maximum supply of Bitcoin (21 million BTC) among 1 billion individuals, each of them would be able to have just 0.021 BTC. 

The number of Bitcoin addresses richer than $10,000 is close to 800,000 according to data provided by BitInfoCharts. There are just 160,000 Bitcoin addresses richer than $100,000. There are only 17,331 Bitcoin addresses larger than $1 million, and many of them are related to cryptocurrency companies or exchanges holding funds on behalf of users. Only 0.52% of the addresses holds between 10 and 100 BTC. 

The number of addresses holding 0.021 BTC is reaching its all-time high close to 6 million that was reached back in 2017. During the bear market experienced in 2018, these addresses fell but have been recovering since the beginning of the current year. 

This chart suggests that the number of users interested in holding at least 0.021 BTC is growing. Although this is a small amount now, it could increase in the future and reach higher prices. At the same time, there is no parabolic increase, suggesting that the growth is genuine and organic this time, compared to the move experienced in 2017. 

The cryptocurrency market has been growing and expanding, but fundamentals are very important for the network. When fundamentals become increasingly strong, the industry is able to experience sustainable growth. 

At the time of writing this article, Bitcoin is being traded around $10,379 and it has a market capitalization of $185 billion. In the last 24 hours, Bitcoin experienced a price increase of 3.12% according to data provided by CoinMarketCap. 

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