$ 1 Million ‘Parabolic’ Bitcoin Addresses Going, ‘10% of BTC Supply Rooms Dormant for 10 Years

While bitcoin is trading above the $ 20k handle, onchain data shows that the number of bitcoin addresses holding at least $ 1 million has climbed significantly increasing by more than 150%. Moreover, Glassnode statistics indicate that about 1.85 million bitcoin has not moved in over a decade.

At the time of publication, bitcoin (BTC) is hovering just below the $ 23k handle as the price touched a record high at $ 23,777 the day before. Onchain data shows that the infamous bitcoin listing has grown a lot this week.

On December 17, 2020, researchers from Glassnode tweeted about the “number of bitcoin addresses holding at least $ 1M USD” and said the metric “has become parabolic.”

Glassnode added:

It increased + 150% to 66,540 referrals, ”added Glassnode. “Why? [Bitcoin] crossing $ 20k has turned all early miner addresses (50 BTC block prizes, obsolete or missing) into millionaire addresses.

$ 1 Million 'Parabolic' Bitcoin Addresses Going, '10% of BTC Supply Rooms Dormant for 10 Years

At current exchange rates, a person needs close to 44 BTC to become a millionaire. Statistics from the 100 richest bitcoin address lists from bitinfocharts.com show that addresses with 10-100 BTC are equal to 138,068 addresses, meaning that just over 71,000 bitcoin addresses are not millionaire accounts. Then there are 13,835 bitcoin (BTC) addresses with either $ 2.2 million (100 BTC) or $ 22.7 million (1,000 BTC), according to stats today.

In addition to the growing millionaire references, there is Glassnode data that shows total bitcoin supply and coins that were last active in over ten years. The data shows that 10% or 1.85 million BTC out of the 18.5 million in circulation, has not moved in over a decade.

$ 1 Million 'Parabolic' Bitcoin Addresses Going, '10% of BTC Supply Rooms Dormant for 10 Years

The coins could be old school holders waiting for much higher prices. Many of the coins could be lost and Satoshi Nakamoto’s famous stash has not moved in ten years either. Although, out of the 1.85 million sitting for ten years or more, “1.78 million bitcoins have never left their miner address,” he said Glassnode.

“That’s 9.5% of the circulating bitcoin supply,” onchain researchers tweeted on Friday. “Our analysis shows that 98% of those coins were mined more than 7 years ago, and 94% more than 10 years ago. Most could be lost forever. ”

Only 2,192 addresses have $ 22.7 million (1,000 BTC) to $ 227.5 million (10,000 BTC) today. 105 bitcoin addresses have $ 227.5 million (10,000 BTC) to $ 2.2 billion (100,000 BTC).

Only one bitcoin address exists today, with between 100,000 to 1 million coins and the 141,452 BTC address has a value of over $ 3 billion using today’s exchange rates.

What do you think about the growing number of millionaire bitcoin addresses and unspent coins over the last decade? Let us know what you think of this topic in the comments section below.

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