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Staggering 97% of all Bitcoin addresses have made a profit

Photo of: Joseph Stone
by Joseph Stone

According to Glassnode, the purchase of Bitcoin translates into an increase in value at the current cryptocurrency rate for 97% of the addresses according to Glassnode. Bitcoin continues its rally and is now flirting with the 15.500 dollars.

The continuous increase in the value of Bitcoin – more than 100% since January 2020 – makes the acquisition of this cryptocurrency a very good investment. According to data from Glassnode, 97% of all Bitcoin addresses can thus claim an increase in value.

This means purchases at a lower price than the current average market price. Given the sharp increase in Bitcoin (+40% in a few weeks), this is not surprising. But the strong increase of the last few days should encourage investors to keep their Bitcoin.

As Decrypt reminds us, Bitcoin is currently experiencing an unprecedented boom. Yesterday, the queen of cryptocurrency passed the 100 consecutive days over the $10,000 mark. Bitcoin now stands above $15,000. It had not reached this price since January 2018.

And the result is simple for the vast majority of Bitcoin holders: a capital gain, if resold at any time. Already between August and September, the threshold of 90% of winning Bitcoin addresses was crossed.

This doesn’t necessarily mean big profits for the owners of these addresses. As BitInfoCharts points out, almost 50% of the addresses only hold 0.0001 Bitcoin. Indeed, less than 5% of the addresses now have more than one Bitcoin.

It is however a record according to Glassnode. Thus, 824,193 addresses contain at least one bitcoin. This is more than the previous record of September 2017 with 824,160 addresses. The value of the Bitcoin is of course not unrelated to this.

At the same time, other records continue to fall. According to the analysis of the data from the Bitcoin blockchain, the mining difficulty fell this week by 16%. This decrease can be traced back to October 2011.

Ethereum’s figures are also soaring. The number of Ethereum addresses holding more than 100 tokens (almost 40,000 dollars in value) now reaches more than 53,000. The previous record dates back to last July.