According to analyst firm Chainalysis, wallets of individual users comes an increasing number of bitcoins compared to the savings of companies and long term investors.
On 31st August 2018 4.8 million bitcoins, or approximately 32% of the total supply of cryptocurrency (minus lost coins) is stored in individual wallets. This figure is much higher than the end of 2017 (the period when the cryptocurrency market was at its peak), when in the hands of retail users was just 3.8 million bitcoins or 26% of the current emission of the first cryptocurrencies.
August data is only a fraction of a percent behind July when the users belonged to 4.95 million bitcoins or 33% of the total BTC in circulation.
“More and more people keep their bitcoin on their own,” says economist Philip Chainalysis Gradwell (Philip Gradwell).
As a result, “a much larger part of the total stock becomes liquid. Many people who buy bitcoin this year, buy smaller amounts”.
However, a large part of bitcoins is still used as a passive investment, regardless of who is their owner – organization or private person. While 6.3 million bitcoins are stored in accounts, the activity of which was not observed.
You should also consider that one person can control multiple wallets, so the real data on the distribution of the money supply of bitcoin is not very effective.
Overall, analysts came to the conclusion that most users prefer to store cryptocurrency, not waste.
Economist Chainalysis Grauer Kimberly (Kimberly Grauer) said that, regardless of whether the user transaction in the personal wallets or exchanges in the accounts, the total distribution of funds begins to stabilize; furthermore, if you compare with last year, the news media will not have such an effect on the movement of funds.
“Abrupt transitions between investment and active transactional accounts is not observed,” she says, adding:
“It is a sign of the adult market with lower volatility”.
Experts Chainalysis also found that in the period from August to December the number of bitcoins in the wallets of the various service providers (e.g., stock exchanges) increased by only 93 299. For comparison, the number of bitcoins in a personal wallet for the same period increased by about 1 million. Consequently, the number of people using individual store, is growing faster than the number of speculators.
According to Gradwell, the distribution of bitcoins has become more dispersed, partly due to the fact that long-term investors have sold their accumulation of smaller traders in the late last and early this year.
He came to the conclusion that, of 28.5 million cryptocurrency bitcoin wallets only 150 000 contains more than 10 BTC.
“Half of the available bitcoins still kept in the hands of investors, but it has become less concentrated”.