By Holders of Bitcoin Have Habitual Behaviors
A diverse range of individuals is attracted by Cryptocurrencies, drawn in by the allure of potentially easy money, or the safety offered by the blockchain transaction process. Some go-getters hold fully packed wallets, whiles others are still adding to their supply. But all are aimed at growing their investments.
25% of all BTC are owned by individuals who invested prior to the price peak of 2017, where the price of bitcoin climbed from $1000 to around $20000 in a one year period. Many of these individuals have not since partaken in any outgoing transactions. Diar estimated that unmined coins (which fall under the lost and illiquid category) constitute 30% of all bitcoins, while a quarter of BTC belongs to long-term investors.
Diar’s recent estimate is that 55% of all circulating bitcoins are possessed by individuals who hold more than $1.3M worth of investments. Over 87% of bitcoins can be found within wallets which hold more than $60K (10BTC). Surprisingly, these coins belong to only 0.7% of all bitcoin addresses. Similarly, 62% of outstanding bitcoins are held by individuals with over $640K (100 coins) worth of investments and belong to only 0.1% of all addresses.
Here to stay till the end
Notwithstanding the abyss of coins thought to be in the possession of Satoshi Nakamoto, the remaining coins seem to lay with investors who show no plans of leaving this game. Additionally, it is known that major exchanges manage five wallets which contain 3.8% of the total bitcoin supply. Chainalysis, a Blockchain analytics firm, noted in a reported in April that up to one-third of the current bitcoins belong to a total of only 1,600 individuals.
Incidentally, during the decline experienced by bitcoin this year the hash rate of the bitcoin network has increased. This increase suggests a strengthening security infrastructure which further encourages the appeal of bitcoin, and ensures long-term investors to the safety of the network.
Diar suggests that 42% of bitcoins held by investors with more than 200BTC in their wallets made no outgoing transactions when the price peaked in December 2017, rather continuing to stockpile their coins than to sell them. 27% of these investors have since purchased additional coins to add to their ever-growing supply.
It can clearly be seen that these go-getter individuals, who jumped on the wagon early in their joining of the bitcoin community, are sticking with their investments until the end. Investors are moving away from seeing bitcoin as a way to earn quick money, and are instead appreciating its long-term value, thus holding onto their coins and growing their investments.
Will these habitual individuals survive till the end, ever-growing their wallets towards bigger things? Or will they claim their prizes and cash in the coins?
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