Bitcoin is the most scarce asset the world has ever seen. People don’t know it yet, but one day they will be fighting tooth and nail for every scrap and morsel of bitcoin that they can get their hands on.
In fact, one day you will not be able to buy Bitcoin with Fiat Currencies like the US Dollar. One day in the not-so-distant future, if you want bitcoin, you will have to exchange your time and energy and work for it.
We are living in a universal goldilocks zone right now where we are still early enough to the bitcoin game that we can buy it with US Dollars, yet late enough that Bitcoin still has significant real-world value with a 750 Million Dollar Market Capitalization.
Welcome back to Bitcoin Basics, your go-to source for all things bitcoin. In today’s article we are breaking down some of the numbers behind bitcoin’s scarcity, from the largest whales to the tiniest of shrimp, the number of people who own at least one bitcoin will shock you!
You might have asked yourself, “How many people actually own any Bitcoin?” Well, it turns out that of the total 21 million supply cap, approximately 19 million bitcoin have been mined. The race to secure the remaining 2 million bitcoins is on, and it’s getting more competitive than ever. As every last fragment of Bitcoin gets gobbled up, supply shocks will send the price soaring to new heights.
Surprisingly, of that 19 million bitcoin that have been mined, 5 million bitcoin are considered lost forever, which accounts for nearly 25% of the total supply! Whether they’ve been misplaced, forgotten, or locked away in inaccessible wallets, these lost bitcoins contribute to the scarcity of this digital gold. It’s a stark reminder of the importance of securing and safeguarding your bitcoin through Cold Storage and Self Custody.
The biggest players in Bitcoin, are often referred to as “whales” when they have 10 or more Bitcoin. Whales have a significant impact on the market dynamics. They can cause waves with their large transactions, making the high seas of crypto a thrilling place for traders and investors. Today, there are currently 154,000 wallet addresses that hold more than 10 bitcoin. Given that there are 8 Billion people in the world, this means that roughly 1 in every 51,000 people have at least 10 bitcoin. Now, it should be noted that many exchange wallets contain greater than 10 bitcoin which represents an aggregate of bitcoin held for multiple different people. So, the true number of bitcoin whales is in fact smaller than this reported number.
Well, if that number doesn’t surprise you, because let's face it, not everyone has half a million dollars sitting around to throw into bitcoin. So instead, let’s focus on the vibrant and decentralized bitcoin community dispersed all across the globe who own at least 0.01 Bitcoin, also known as ‘shrimp’. Shrimp are known as anyone who owns less than 1 bitcoin. There are over 12.5 million addresses with greater than 0.01 bitcoin. This represents about 0.15% of the world’s population or about 1 in every 640 people! There is a good chance that you, or someone you know holds at least 0.01 Bitcoin.
It's now time for the main event, the moment you have all been waiting for. Let’s talk about the ever-elusive and elite club — the 1 Bitcoin club. Today, roughly 1 million wallet addresses have more than 1 bitcoin. Think about that for a moment — only 1 million out of the nearly 8 billion people on Earth own at least one full bitcoin. That works out to be only about 1 in every 8,000 people!
When you consider the fact that there are approximately 60 million millionaires in the world, and yet only 21 million bitcoin for them to fight over, someday these people might figure out that there are not enough bitcoin out there for every single millionaire on earth to hold one bitcoin. For this reason, it might be smart for you to acquire one bitcoin while you still can. It’s like having a golden ticket in the world of digital finance.
Let's do a thought experiment for a moment. What if the ownership of bitcoin was perfectly distributed between all 8 Billion People on Earth?
What would that look like?
In its most simple form, if you divide all 21 million bitcoin between every single person on the planet, each person would receive 0.002625 Bitcoin. This amount can be obtained today for roughly 100 US Dollars. Think about it, for just $100 today, you can secure your individual slice of the total bitcoin pie. Who knows, maybe one day that very same slice of the bitcoin pie could represent a full human lifetime worth of working and saving.
So, there you have it — the shocking truth about Bitcoin scarcity. With just over a million addresses on earth holding more than 1 bitcoin, the digital gold rush is becoming more exclusive than ever. Whether you’re a seasoned investor or just getting started, the world of this digital currency continues to evolve, offering opportunities and challenges for everyone involved.
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How Many People Own 1 #Bitcoin?? This Will SHOCK You was originally published in The Dark Side on Medium, where people are continuing the conversation by highlighting and responding to this story.
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