Every once in a while, it\u2019s necessary to dispel unfounded rumours of bitcoin\u2019s imminent demise. One such rumour goes something like this: \u201ca few people own the bitcoin supply, therefore it can be manipulated at will and you\u2019re left holding the bags.\u201dAside from the fact that bitcoin is a maturing asset, this statement is plainly false.Also, why would you sell the currency of the future for the currency of the past?Let\u2019s dig in.A Bloomberg report in late 2020 stated that about \u201c2 % of accounts control 95% of all bitcoin.\u201d And indeed, raw data on bitinfocharts.com suggests a sizeable concentration of bitcoin in the network when taken at face value.However, the issue with this data point is that the btc distribution across network addresses does not accurately reflect the concentration of bitcoin.As such, Glassnode introduced an \u2018entity\u2019 which aggregates addresses that belong to one group or person with each other to compile a more accurate account of bitcoin supply distribution.To do this, two concepts are key:Bitcoin addresses, which can hold funds from more than one individual (e.g. exchange addresses).One single entity, which can own and control multiple bitcoin addresses holding BTC.An in-depth analysis from Glassnode reiterates in various ways that bitcoin remains decentralised when entities are taken into considering, and that the current circulating supply is also distributed among smaller entities.The above estimate measures the percentage of the bitcoin supply controlled by network entities (excluding miners and exchanges). Per the chart, about 2% of network entities control 71.5% of all bitcoin, which is notably different from the \u201895% supply ownership\u2019 that Bloomberg reports.By compiling the number of entities holding bitcoin, excluding custodian exchanges and miner entities, the bitcoin supply distribution is as such:Miners \u2014 9.7% (1.91mn)Exchanges \u2014 12.7% (2.36mn)Whales >5k btc -13.3% (2.47mn)Users 1k-5k btc \u2014 18.4% (3.42mn)Users 500\u20131k btc\u2026<\/p>","protected":false},"excerpt":{"rendered":"
Every once in a while, it\u2019s necessary to dispel unfounded rumours of bitcoin\u2019s imminent demise. One such rumour goes something like this: \u201ca few people own [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/posts\/3451"}],"collection":[{"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/comments?post=3451"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/posts\/3451\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/media?parent=3451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/categories?post=3451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/tags?post=3451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}