Retail investors own the largest share of the Bitcoin cryptocurrency in history. According to data from the companies GlassNode and IntoTheBlock, indicated by the Yahoo Finance server, it is in the hands of about 17 percent. GlassNode defines a retail investor as the owner of any cryptocurrency wallet with less than ten bitcoins. One coin is currently worth 384,890 CZK, so the entire portfolio is over 3.8 million.
The percentage of bitcoin that hasn’t moved in at least a year also hit a record on Monday, according to data from IntoTheBlock. It made up nearly 70 percent of the total number of this most popular cryptocurrency.
“Not perfect yet, but solid for a 12-year-old asset and definitely moving in the right direction,” Will Clemente, blockchain analyst for Reversal Research, wrote on Twitter. According to him, the supply of bitcoins will disperse over time, while the regular currency will concentrate in the hands of the so-called whales, as big investors are called.
Only 2% of cryptocurrency wallets controlled the majority of bitcoin two years ago, according to some reports. This has prompted criticism that the ownership of a currency designed in such a way that no one – not even its creators or other individuals, groups, or governments – could influence it, counterfeit it, take over its accounts, control its cash flows or cause inflation, was practically concentrated in the hands of adult players.
Next financial crisis
India’s central bank warned on Wednesday that the next financial crisis will come from the world of private cryptocurrencies. The bank has long argued that cryptocurrencies should be banned because, in its view, they have no intrinsic value and pose risks to the overall economy and financial stability.
In recent weeks, the price of bitcoin – and therefore of the entire cryptocurrency world – has reached its lowest value since the end of 2020. The drop was mainly caused by the collapse of the FTX cryptocurrency exchange. Even earlier, bitcoin was traded for CZK 522,150, but currently, it is only CZK 384,890.
Exactly one year ago, the value was 1,076,440 CZK. By far the most popular cryptocurrency set a record in November 2021 when it was offered for CZK 1,427,350.