The Bitcoin ecosystem has many different statistics that deserve a lot more attention. Although it has been documented before, the accumulation of BTC is still going strong. Over 154,600 addresses now hold at least 10 BTC, creating a rather large 10 BTC Club.
The 10 BTC Club Keeps Growing
Ever since the inception of Bitcoin, there has been a steady increase in the number of addresses holding BTC. Especially when looking at those unique addresses with at least 10 BTC, the growth has been spectacular. Continuing this rate of growth remains very likely, even as the Bitcoin price increases over time.
During the first eight years of Bitcoin’s lifespan, it was relatively easy to become part of the 10 BTC Club. Holding on to that balance as the price crept higher has always been a different matter. Overall, the net result is how more unique addresses own at least 10 Bitcoin compared to that period.
Based on the recent statistics by Glassnode – up until late May 2020 – there are over 154,600 addresses with a 10 BTC balance or higher.
This number has kept increasing for some time now. A flattening of the curve is only logical in the past year and a half, but the uptrend hasn’t been broken as of yet.
At its peak, there were over 156,450 addresses holding 10 BTC or more. During that period, Bitcoin was worth just under $10,350.
Today, the world’s leading cryptocurrency sits below that level, giving users more options to accumulate. The vast majority of long-term holders have been doing so throughout 2020, and they show no signs of slowing down.
In terms of market sentiment, this is very bullish. More unique addresses holding such a high balance – currently still worth over $90,000 – indicates that people remain drawn to Bitcoin. A fair few of them want a membership to the 10 BTC Club to boot.
This list will include exchanges, wallets, multisig accounts, et cetera. At the same time, it shows that owning 1 BTC isn’t necessarily enough for most people either.
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