78 Percent Of Bitcoins Are Hoarded: Quantitative Analysis Of Transactions

April 6, 2013 3:39 am

We had written about this before – that a very significant percentage of Bitcoins are actually hoarded. We had asked this recently as well: Bitcoin’s Rise: What If It Is Not A Bubble?

We spotted that stat again today, via Priceonomics: “If we sum up the amounts accumulated at the 609,270 addresses which only receive and never send any BTC’s [bitcoins], we see that they contain 7,019,100 BTC’s, which are almost 78% of all existing BTC’s.”

Source: Quantitative Analysis of the Full Bitcoin Transaction Graph

78 percent of Bitcoins are hoarded. Add the Buzz element, and we can clearly see that there is only one direction this could move: up.

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1 Comment for “78 Percent Of Bitcoins Are Hoarded: Quantitative Analysis Of Transactions”

  1. Sly

    For anonymity purpose, one create a new address to receive Bitcoin, that’s why those address never spent anything till now (they just received it).
    So you should find the older ones to see how many are really hoarding.
    And since there is not so many merchant to by from, the only one who ‘spend’ their bitcoin are the one that do trading.
    Miners who have mined for fun, may just keep it, to see what happen.

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