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‘Bitcoin Rich List' Reaches All-Time High
Posted by Bill Rippel on August 25, 2020 - 12:36am
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.
Number of Addresses with Balances of 1,000 BTC or More
Source: 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.
