I feel like I have been staying away from crypto talk on purpose at the moment. Perhaps it is me managing expectations or something, rather than getting too excited at the prospect of Bitcoin all time highs, and the potential for alts to get some massive run off. But, of course it is kind of hard not to get a little excited at the prospect of what might be "life-changing" value.
Apparently, there are "just" 62 million, millionaires in the world at the moment, out of 8.2 billion people on this planet. However, for a little context, there are 1,015,894 addresses that have over 1 Bitcoin in them.
That is a pretty exclusive club.
Out of those accounts, the largest of course is pretty fucking large and holds 248,597 BTC, with a street value of $16,725,297,435. There are "just" 4 addresses that have more than 100K. The distribution of Bitcoin is actually pretty interesting.
As you can see in the table above, just under 60% of all Bitcoin, is held in around 16,000 wallets. And those million accounts with more than 1 BTC in them, soak up almost 93% of all Bitcoin in existence, whether it is available, or locked and lost - the key thrown away. So, what that leaves out of the current supply, is about 1.4M bitcoins for everyone else.
The 98%.
The 1 Bitcoiners are an exclusive club for sure at the moment, but it is likely that in the coming months, some of those holding accounts will divest a little so more can join the ranks. However, with each cycle, it is going to get harder and harder to join those ranks, meaning that the somewhat steady climb of 1 Bitcoin accounts, will slow down. Unless there are owners with multiple accounts, which of course there are.
It might never be known how many "1 Bitcoin" owners there are, but for sure the individual owners will know, won't they? That in itself is a pretty big driver for many people, where they want to be part of an exclusive club.
I Identify as a one-bitcoiner.
I use buy/sell pronouns.
But, just think about the hype that can get created when people want the bragging rights, where the rich and famous are looking to tap into Bitcoin, for the same reasons they will buy a Lamborghini. Rather than walking around with a Tiffany's diamond necklace, they have a platinum hard wallet hanging around their throat instead.
Don't underestimate the power of ego.
Bitcoin is unfortunately not very interesting for me, because well, I just don't have as much as I would like of it. So for me, I am more looking at the drain into alts where I have more holdings. It would also be nice if SPS and Splinterlands assets in general got a bit of a boost out of this. And, I expect that this is just the start of the run, where we still have a decent crash from the "lowball high" before the bigger run to come. I might be wrong.
But for those divesting a bit, it is going to be interesting, because while many will move into stables, I get the feeling that they aren't going to be as stable as they were last run, and they are going to become a target for some kind of legislative manipulation, once everyone goes into them. That would make for a good "excuse" for a Bitcoin crash into a bear market again, wouldn't it?
Where to hold?
I don't know. Hopefully at some point though, I will get a chance to spend some. I would really like to do something like the garden for my wife, so she can sit out there with a cup of tea and reflect on where her husband has been every night for seven years, and whether it was worth it.
I think she would say - yes.
So, watching the price go up, is a bit like watching grass grow, because that is what it would likely get spent on later.
Mary, Mary, quite contrary, how does your garden grow?
Digitally.
Taraz
[ Gen1: Hive ]
