Bitcoin, during its short life, was worth less than a cent, rising in 2017 to nearly $20,000.

It is therefore not surprising that the currency has made some people rich throughout its long history.

There are already those who have benefited from the rise of Bitcoin from its small and small value to become what it is today.

Whoever has been successful in achieving one million dollars in cryptocurrency is called a “Crypto Millionaire.” In this article, we will learn how many Bitcoin millionaires there are at the moment.

How is a bitcoin millionaire defined?

Since Bitcoin has an open and public blockchain, determining the number of Bitcoin millionaires should be simple by checking the number of Bitcoin addresses that contain more than $1 million worth of Bitcoin.

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At the current bitcoin price of $10,362 (as of September 11, 2020), this means that anyone who owns at least 97 bitcoins (or thereabouts) can be considered a bitcoin millionaire.

According to data provided by Buy Bitcoin Worldwide, Bitcoin has a 60-day average daily volatility of 2.39%.

This means that, on average, the price of Bitcoin has fluctuated by 2.39% every day for the past two months.

This volatility can affect the number of bitcoin millionaires, either by raising or lowering the threshold required to qualify for the title of bitcoin millionaire.

Similarly, given the number of shared wallets such as cryptocurrency exchanges, custodians and custodians, and multi-signature wallets, the assumption that one address means one person can be somewhat misleading.

What we can say is that any address with more than 97 bitcoins is either a bitcoin millionaire or a company that controls more than a million dollars in user funds.

How many bitcoin millionaires?

According to the data received from the websiteBitInfoChartsThere are currently 17,005 Bitcoin addresses with a balance of $1 million or more.

However, due to the fact that an unknown number of bitcoin holders may own multiple addresses worth more than $1 million, while many addresses with more than $1 million in bitcoin may be owned by the same person, it is best to consider this number as an estimate. approximate.

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In addition, there are about 158,545 addresses holding more than $100,000 of bitcoin and 869,463 addresses holding at least $10,000.

Overall, out of the 16 million titles tracked by BitInfoCharts, only 0.11% can count as millionaires at today’s rates.

For comparison, there are approximately 18.6 million individuals with a net worth of $1 million or more in the United States, which equates to about 9% of the adult population.

One in 6.5 bitcoin millionaires owns more than $10 million worth of bitcoin, while only 104 addresses hold more than $100 million in bitcoin.

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While only one address qualified in earlier times for the Bitcoin Billionaire Club, this address is the richest address in existence and has a balance of 237502 BTC, worth about $2.44 billion.

This address represents the cold wallet of Singapore-based cryptocurrency exchange Huobi, which means it consists of deposits potentially of thousands of Huobi users.

With very few bitcoin millionaires, it is clear that bitcoin has fared better distribution than many other fiat currencies, which means ensuring that the crypto wealth is distributed evenly.

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