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‘Bitcoin Rich List’ Reaches All-Time High
The "Bitcoin Rich List" reached a new high, possibly because of more interest from institutional and high-net-worth investors.
By Muyao Shen
Updated Mar 6, 2023, 2:48 p.m. Published Aug 24, 2020, 7:27 p.m. 1 min read
There are more than 2,000 addresses holding over 1,000 bitcoin, potentially reflecting increased interest from institutions and high-net-worth investors.
- The Bitcoin Rich List, or the number of addresses holding all that bitcoin, is at a record high, according to data site Glassnode.
- At press time, 2,190 addresses contain 1,000 or more bitcoin, according to data compiled by BitInfoCharts. The previous record was 2,184 on Sept. 28, 2019. Bitcoin's price was $11,717, up 0.28% from the previous 24 hours as of 19:15 UTC.
- The total amount of bitcoin held in accounts of 1,000 or more was 7,868,823 as of press time. That amounts to $92.2 billion.
- In the wake of the coronavirus pandemic, more investors have been looking into bitcoin and other cryptocurrencies as alternative investments to traditional markets.
- George Ball, the former chief executive of Prudential Securities and now CEO of Sanders Morris Harris, told Reuters earlier this month that bitcoin or another cryptocurrency is a very “attractive” investment and hinted that many “very wealthy” investors and traders have turned to bitcoin.
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The creator of the Mayer Multiple argues bitcoin’s growing economic substance is compressing volatility and attracting deeper capital.
What to know:
- Bitcoin volatility has dropped from around 120 in 2017 to 35 as institutional participation and options markets add stability to the asset.
- Mayer believes lower volatility makes bitcoin more investable for corporations, family offices, and institutional investors.
- Despite long-term concerns around miner security incentives and quantum computing, Mayer remains bullish...
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