If we count the number of people participating in the Bitcoin market in the world, this will amount to millions of users. However, how many of these individuals really own 1 Bitcoin? The high price of the BTC means that not many people can afford to own an entire cryptocurrency token. Which reduces the number of users who do, to a very small percentage of the total population of the crypto market.
The high price of Bitcoin
This phenomenon, however, is not at all unexpected. In fact, from the first days of the existence of Bitcoin as a cryptocurrency, within the crypto community it was debated how the subdivision of this virtual currency would be allowed. To be simple to use by users even if it did not have an entire BTC.
And, having a limit on its issuance, there is a fixed and reduced amount of Bitcoins in the market. What guarantees, due to its scarcity, that the price of the cryptocurrency will not be reduced. On the contrary, as its use increases, and therefore its demand, without the supply expanding at the same rate, the price of BTC will tend to skyrocket.
This is exactly what we have seen on several occasions within the crypto market since 2017. Well, since the great bullish rally this year, the value of Bitcoin has remained quite high. To the point that today, it is quoted around $ 10,218 per BTC. An amount expected to increase following the halving of the month of May.
Only a small proportion own Bitcoins
And it is precisely this situation, designed from the very design of Bitcoin, that prevents most users of the crypto world from owning an entire BTC token. Having mostly only fractions of these called satoshis. With those who can also perform all their transactions, even without having an entire Bitcoin.
But today, and thanks to a study by BitInfoCharts, we can know the exact amount of crypto world users with at least 1 Bitcoin in their wallet. Ascending the same to a total of 633,008 unique addresses at the time of the study. Which is equivalent to only 2.18% of the wallets in the BTC Blockchain.
This figure becomes even more dramatic when we remember that a wallet does not equal a person. On the contrary, it is common for large organizations such as cryptocurrency exchanges to own many wallets within the Bitcoin Blockchain. Which would mean that the number of people with at least 1 Bitcoin is even smaller.
Of course, just as there is the possibility of an organization or person owning several wallets with 1 Bitcoin. It can also happen that a person has 1 BTC or more distributed in several wallets. However, even admitting this deviation in the data, the truth is that it is clear that for most of the crypto world, owning an entire BTC token is a dream almost impossible to achieve.
International Studies student, interested in economics and international politics. Passionate about the progress of the Fourth Industrial Revolution in general and cryptocurrencies in particular.