Diar Report: 55% of Bitcoin (BTC) Are Stocked Away In Lost Wallets or Yet to be Mined
The data, recently compiled by cryptocurrency market research newsletter Diar in its latest weekly edition, has revealed some interesting statistics about Bitcoin wallets and the nature of their owners.
According to the data revealed by the analysis, 55% of Bitcoin (BTC) is presently stored in wallets that are valued at more than $1.3 million, resulting in balances of over 200 Bitcoins.
About 33 percent of Bitcoin (BTC) in those wallets have never been used in outgoing transactions since the digital currency tested its all-time high in December last year, according to report. This might be as a result of lowering real supply, lost private keys, or a very strong resolve by digital currency believers.
Despite Bitcoin price $6311.70 -0.53% trending towards $6000 once again this week, there is little trace of panic selling, Diar noting largescale investors continue to show “very strong resolve.”
Diar’s recent reckoning states that a majority of circulating bitcoins (55%) are sitting in wallets pegged above $1.3M at current prices. In fact, over 87% of bitcoins are tucked inside wallets that hold more than 10 BTC ($60K+). What’s remarkable is that these coins sit in only 0.7% of all bitcoin addresses.
However, these figures do not simply represent a small number of incredibly wealthy individuals. They are much more likely to be owned by cryptocurrency exchanges themselves.
The Diar report also supports an earlier research paper published by Chainalysis. Both studies estimate that there is a strong chance that as many as 30% of all Bitcoin is lost or yet to be mined.
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