Whopping 3 Million Bitcoin Addresses Hold At Least 0.10 BTC. What This Means for Cryptocurrency Investors
New data from Glassnode, a Bitcoin analytics firm, suggests that no fewer than 3 million Bitcoin addresses hold at least 10% of a full Bitcoin in a wallet. The inherent message within that data is clear: Bitcoin adoption is gaining steam year-over-year.
It should be noted that the number of addresses holding that amount doesn’t necessarily mean there are 3 million investors out there holding that much Bitcoin. One investor can hold potentially an infinite number of Bitcoin addresses for themselves.
How An Increase In Bitcoin Addresses Impacts Investors
Infamous crypto investing whale PlanB, who we’ve mentioned before here on the Netcoins blog, posits that the steady but clearly increasing acceleration of new Bitcoin addresses being created is akin to that of a country growing rapidly in population. He claims Bitcoin is now the world’s fastest-growing country.
Clearly that’s music to the ears of Bitcoin purists and progressive investors looking to make an impact on their own personal net worth while freeing themselves of centralized government controls. Along a similar wavelength, if we consider the idea that Bitcoin is roughly a $200 billion asset at the moment, it holds enough spending power to rank it as the 21st most valuable currency on the planet. That’s in comparison to both cryptocurrencies and traditional government-backed currencies altogether.
Bitcoin Adoption in The Next Decade
The most exciting conclusion investors can draw from this new data is the fact that the number of new Bitcoin addresses being created will continue to increase exponentially and thus the value of the currency itself will increase as blockchain technology and cryptocurrencies continue to evolve in how they are used.
With the world of digital currencies advancing with every passing day, there is no better time than now to learn how to buy a Bitcoin in Canada. Stay posted to the news here at the Netcoins blog and register for free when you decide you’re ready to be part of the revolution.
Written by: Jack Choros
Writer, content marketing at Netcoins.