Cryptocurrencies

‘Bitcoin Rich List’ Reaches All-Time High

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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