If you entered the cryptocurrency industry out of expectations of making large amounts of money, you may have wondered how many people have already achieved that goal. For this reason, we will tell you how many Bitcoin (BTC) addresses have more than one million dollars.
Being rich in Bitcoin: how many addresses are it?
Understanding that 1 BTC currently sells for around $ 9,000, arguably you need about 107 BTC to claim that you are dollar rich.
Right now, according to Glassnode, there are more than 13,000 Bitcoin addresses that are worth at least $ 1 million. But you should always know that since we are talking about the price in dollars, and the fluctuation is constant in Bitcoin, this amount can vary quite a bit.
Since this metric is tied to Bitcoin’s dollar price, it tends to fluctuate a lot. For comparison, the number of addresses containing at least 100 BTC has much less volatility.
How has this been over time?
Reaching these high numbers is not always an easy task. While it’s true that 107 BTC is needed to get rich right now, in 2017 you needed a lot less during this year’s bullfight.
However, you should know that today there are many more addresses of exchanges and large institutions that, although on paper may seem extremely rich, actually have the BTC digest of many people.
Also, it must be emphasized that in the past mining was easier before the Halving that occurred and that reaching large Bitcoin figures was more feasible than now. Additionally, there are over 1 million Bitcoins that were probably mined by Satoshi Nakamoto. These currencies have not moved in over 10 years.
Measuring exactly how many people are rich in Bitcoin is complex, there is no way of knowing exactly at all times. However, you can always make a relationship between addresses with more than 100 BTC and the price of the cryptocurrency at any given time.
The latter does not necessarily imply that we know how many individuals are behind these directions. Some data would be missing to determine it with complete accuracy. For this reason, companies such as Glassnode so far only make speculations or approximations about it, and the latest estimates that there are 13,000 dollar-rich Bitcoin addresses.