BTC - A new high, more than 784,000 addresses now hold 1 or more BitcoinsteemCreated with Sketch.

in bitcoin •  28 days ago 

Bitcoin has been in accumulation mode basically since inception

There are now more than 784,000 unique addresses that hold 1 or more bitcoin in them.

I know I know, you are probably needing some context to fully understand what that number means exactly.

Well, as of this time last year, there were roughly 707,000 unique addresses that held 1 or more bitcoin in them.

That means in the past year, we have seen an increase in these wallets of 11%.

And as you might have guessed, the current number represents an all time high:

(Source: https://twitter.com/bloqport/status/1220019836677476353)

What does this mean?

Unfortunately we can't say for sure exactly what this means as unique addresses doesn't necessarily mean unique users.

Which means, we can't say for certain that there has been an 11% increase in unique users over this same time period.

However...

I think there is a reasonable assumption that at least some of those are new users.

Enough so that cryptocurrency research firm Bloqport speculates that the figures likely highlight retail accumulation of Bitcoin.

With that pattern basically going up year after year, it looks like retail has been accumulating pretty much ever since they heard about bitcoin.

Stay informed my friends.

-Doc

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Very interesting information, I stay tuned to learn, because I really do not understand much, but my ears and eyes are ready to learn. Thanks for the info. @jrcornel

Thanks.

I think STEEM also has been accumulated in STEEM POWER.

Yes, very true.

how many are wallets that ppl wont use again i wonder

As there is no correlation between number of addresses and number of wallets that the addresses belong to, I can only estimate that maybe third of the wallets are wallets that are not used in the future, but almost all addresses won't be used more than twice. Some of the inactive wallets belong to people who lost their keys, lost all the coins due to scams, retired from bitcoin mining and/or trading, or died.

Keep in mind that every one of those addresses hold 1 or more bitcoin in them...

Unfortunately, 783.000 of the owners of aforementioned addresses have lost said addresses !

Posted using Partiko Android

I am not yet part of that number but I keep stacking those sats... will get there

Posted using Partiko iOS

Great news!