Bitcoin may have gone up in 2020, but this is why seeing the 15 richest addresses will be important in 2021.
Transparency is one of the most intriguing aspects of cryptomoney and it was this openness that attracted many of Bitcoin’s early supporters.
Blockchain technology makes all the information associated with the operation of the network accessible to anyone interested in taking a look. All addresses, transactions, commissions paid and other details related to multiple signatures and the use of SegWit are at a glance.
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The 15 richest Bitcoin addresses have always been the focus of attention for several reasons. Some researchers routinely review the top addresses for the steps of Bitcoin’s creator, Satoshi Nakamoto. Others study data to track the maneuvers of the crypto whales and predict the market manipulation that results in volatile price fluctuations in the Bitcoin price.
Major addresses have even come to the attention of government agencies such as the U.S. Internal Revenue Service and the Treasury Department.
In fact, entire companies have been formed that specialize in obtaining additional information about cryptomoney addresses and their possible associations. It is no secret that the U.S. Internal Revenue Service hired Chainalysis and Integra FEC, two cryptanalysis firms, to track transactions.
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More recently, under Secretary of the Treasury Steven Mnuchin, the Treasury Department is considering whether or not a law on self-sustaining crypto wallets is required. If passed, these changes emphasize the importance of privacy for market participants.
The addresses are not the same as the entities
The 15 most important Bitcoin addresses
As shown above, the top 15 addresses contain 1.07 million BTC, or 5.7% of the pending Bitcoin supply. At the current price level of USD 29,000, this equates to USD 31.03 billion. While this is a large amount of Bitcoin, it’s also worth noting that the aggregate volume of BTC in spot exchanges exceeds USD 5 billion per day.
It’s important to note that the initial deposit date of an address doesn’t mean that the entity that owns the address has first acquired currency on that day. The coins could have been sent from another address belonging to the same entity. Therefore, the dates showing the first funds sent to 11 addresses since only 2018 do not prove that the address holders are new to the industry.
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It is also worth noting that none of the top 15 addresses are rumored to be owned by Satoshi. Researcher Sergio Lerner has shown that the blocks mined by Nakamoto contain unique patterns known as Patoshi patterns. Although that mined BTC has not yet been moved, it was not assigned to a single direction.
The top 100 directions concentrate 15.7% of the total supply, which is quite impressive compared to the level of distribution observed in traditional markets. For example, the top 20 funds that own PayPal shares hold a combined 19.7% of the total stock supply.
Five of the 15 most significant directions are known exchange directions, indicating that the apparent concentration does not exist in a way that can be attributed to crypto whales.
In addition to exchanges that have large amounts of Bitcoin in their wallets, some custodians also accumulate BTC for numerous customers in wallets distributed in various directions with large amounts.