Bitcoin is piling in more than 732,000 addresses owning at least 1 BTC. Meanwhile, the top-100 BTC addresses are seeing more inflows that outflows of BTC.
Bitcoin Attaining SoV Status
There are currently 732,982 Bitcoin addresses that hold more than 1 BTC. Compared to the over 20 million known addresses, this figure represents a small amount of “whole bitcoin” owners.
The basic definition of money covers a unit of account, medium of exchange, and a store of value. There is hardly any doubt as to whether BTC satisfies the first two even if the mechanics behind its operation might not be efficient at times.
Bitcoin’s final hurdle is in being a store of value (SoV) putting it in the company of assets like gold and silver.
As reported by Bitcoinist, the top-ranked cryptocurrency’s current price trend still leads the stock-to-flow model, which as a $1 million per BTC price outcome.
60% of all bitcoins have not moved in one year.
That’s 10.5 million bitcoin being held as a store of value for the last 12 months.
This is a…