Is it fair?
Guys I hurt myself very bad, I am in big pain. No worries it's not because of the markets, it's tea. 🤣 I was just drinking my tea, and when I saw the numbers in the news, I lost my concentration and burned my tongue bad. 😀
We're still poor, so lets not get our mouths shut. A digital asset research company that operates in New York has counted the wallets have some BTC. Come on, lets look at the numbers. The report says;
👉 At total 22.9 million addresses have BTC.
👉 Approximately %90 of the wallets roughly have maximum of 340 dollars (0.1 BTC).
👉 80% of wallets with a balance below 100 $, and
👉 11.5 million accounts with 0.001 BTC (3.4 dollars) smiles to the future 🤗 😅 Wow, just wow..
Let's do the math,
⭕ 11.5 × 0.001 = 11,500 BTC
⭕ 11.5 ÷ 22.9 × 100 = 50.22
⭕ 0.8 × 22.9 × 0.001 × 100 ÷ 3.4 = 538,823.529 BTC
So,
👉 Almost fifty percent of the wallets have only 11,500 of the total amount of bitcoins in circulation
👉 80 percent of the wallets have up to 539 thousand of BTCs at total, and
👉 90 percent of the wallets have the total of 0.1 × 0.9 × 22.9 = 2,061,000 BTCs.
You see, the other 10 percent has roughly 15 million of BTCs in circulation. Of course, I don't know exactly which factors are considered by the company in calculation of these numbers. If we consider the missing bitcoins and include them to the math the real number would be a lot less than 15 mn, and it will make sense if we assume that the wallets belong to the crypto exchanges and other traditional institutional investors could be considered in this 10% slice. Deep inequality in returns and wealth is hurting my hopes and dreams!
In short, now its not only my tongue, my heart hurts deeply. 😥 I think we can find an old version of this research in order to compare it to our poverty evolution caused by the speculations in the markets.
