0.01% of bitcoin holders control 27% of all BTCs in circulation From NBER

The following is the 0.01% of bitcoin holders control 27% of all BTCs in circulation From NBER recommended by recordtrend.com. And this article belongs to the classification: Blockchain, Bitcoin.

According to a new study, less than 1% of the largest bitcoin (BTC) holders are said to control more than a quarter of all BTCs in circulation. The National Bureau of economic research, a private non-profit research institution in the United States, recently released a new research on bitcoin.

According to the study, 10000 bitcoin investors – that is, 0.01% of all BTC holders – own 5 million BTCs, which is equivalent to 27% of all 18.9 million circulating currencies. According to a report published by the Wall Street Journal (WSJ) at local time, the amount of BTC held by these people is equivalent to about $232 billion.

The study was carried out by Antoinette schoar, a professor of finance at the Sloan School of management at the Massachusetts Institute of technology, and Igor Makarov of the London School of economics to prove that bitcoin is not as dispersed as people think.

“Although it has existed for 14 years and its hype is strong, it is still a very concentrated ecosystem,” schoar said.

It is said that this BTC share is more than the dollar controlled by the richest families in the United States. According to the report, citing the data of the Federal Reserve, the richest 1% of households in the United States have about one-third of their wealth.

The new report may sound shocking to the cryptocurrency community, because the main bitcoin advocates have been promoting decentralization as one of the biggest principles of the bitcoin network.

According to MATI Greenspan, founder of quantum economics, most of the circulating BTC supply is controlled by Nakamoto, the pseudonym creator of bitcoin. “Nakamoto’s currency alone accounts for more than 5%,” Greenspan told cointegraph, adding – “over time, the ownership of bitcoin is designed to be more decentralized. For Fiat, the opposite often happens.”

In addition, it is worth noting that many of BTC’s circulation supplies are not controlled by anyone and are likely to be lost forever. According to coincover, a cryptocurrency insurance company, about 4 million BTCs lost circulation due to loss of access.

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