Eye-Opening Bitcoin Wallet Stats To Feel Good & Gain Global Perspective

steemmatt (69)in #perspective • 5 years ago (edited)

Want to feel part of something special?

Most experienced with crypto are familiar with these current figures shown below, but many newer investors won't be.

Either way, this is a valuable reminder of how small the Bitcoin community is globally, and obviously other tokens following in the ranks.

Take a good look:

Note: Most of the biggest BTC wallets logically belong to exchanges. You can scroll down on the link below to see more detail.

^{Source: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html}

Thoughts:

In reality, very few people hold the world's largest, oldest and most popular cryptocurrency. Think about the potential future scarcity factor when you see how many meaningful wallets actually exist. I'll explain more below.
While there will be a 21,000,000 BTC cap, there are over 7.7 Billion humans.
This means that only 0.0027% of the world's population will potentially be able to own an entire Bitcoin (assuming that population remains constant). Let that sink in.
Only 578,627 wallets (not people) hold 1-10 BTC. That's a very small group of people given the duration of BTC's existence.
With only 458,507 wallets currently holding over $10,000 of BTC (not people), there's a very small portion of the world holding more than 2 BTC. That's a ton of money cumulatively, but really not a lot of people.
For perspective, the amount of BTC wallets worth between $100,000K - $1,000,000 across the WORLD wouldn't even fill TWO Dodgers MLB stadiums...

8.6% of the outstanding BTC supply is held by wallets between 1-10 BTC, while 24.9% are accounted for in wallets between 10-100 BTC.
62.15% of the outstanding BTC is held in wallets of 100+ BTC. That's a lot of rich accounts holding strong.
If more than the currently microscopic amount of people decide it's time to invest in and use BTC (and crypto), try to wrap your minds around the impact of the supply/demand on price... This assumes a lot of generally positive variables, but the upside is astronomical compared to the downside of $0, or stuck at a disappointing level.
If governments and corporations (banks, etc..) start building BTC reserves, as if they haven't already... well, let's be glad we're involved early enough to increase our chances of financial freedom.

There are a lot of alternatives to BTC, but I like BTC as a solid cash cow for what it can respectively solve for humanity in the long run. When in doubt, zoom out.

Please share your thoughts below. This is only my thoughts for inspiration and entertainment, not any form of financial advice.

Thanks,

@steemmatt

#bitcoin #crypto #cryptocurrency #aheadofthecurve

5 years ago in #perspective by steemmatt (69)

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rmsbodybuilding (67) 5 years ago

calculations always right but all value is made by manipulation, no project no ways to use it your calculations will go to down the river. so fat bitcoin moving only be social media manipulations and trading with big ammounts, there is no ways to use it, because people afraid to use it as a a money in value. people go for profit not for a value.

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steemmatt (69) 5 years ago

That may be the case now, but the technology and use cases will evolve over time. Have some faith in fat bitcoin!! The value is all manipulated, but the number of wallets holding is factual and really eye opening in that it's such a small % of the world's population. Some people likely have multiple wallets here too to water the headcount down.

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khufu (55) 5 years ago

I'd rather not hold bitcoin at all but you more or less have to because it's a common trading pair with everything on exchanges. The fees are high, the transaction speed is slow and because it's community developed people always want to fork it.

That being said I still use it as safe haven of sorts. I've made a killing on alts over the last few weeks and rolled the profits back into BTC while I decide where to invest next.

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steemmatt (69) 5 years ago (edited)

I suggest not ruling BTC out. Many ALTs are short-term lotto tickets to me. Most will fizzle out. BTC will be scarce and it isn't going anywhere. It's all over govt and corporate radars now while most ALTs will lag far behind in awareness. BTC fees aren't that bad these days and everything will improve over time. It's much more likely to be a good thing to hold some BTC for the long run than not. ALTs are much more of a gamble, but they both seem to offer high reward. Congrats on making profits.

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