Individual Holders Control More Than 45% of Total BTC Supply – Research
According to the National Bureau of Economic Research (NBER), 45.1% of the total Bitcoin supply is in the hands of private holders. And 90% of the global network hashrate is controlled by only 10% of all Bitcoin miners.
NBER researchers conducted a study and found that the 1000 largest investors control approximately 3 million BTC, or 15.9% of the circulating Bitcoins. And another 9,000 largest investors own approximately 2 million BTC, or 10.6% of the circulating Bitcoins.
The authors of the report concluded that the large and concentrated players (large miners, Bitcoin holders or exchanges) are still dominating in the Bitcoin ecosystem.
However, the study also noted that private bitcoin holders currently own 8.5 million BTC, or 45.1% of the supply.
The NBER also revealed that 10% of the largest miners control 90% of the global hashrate. Approximately 50 miners (0.1% of the network) control half of the total hashing power of the Bitcoin network.
According to NBER, this centralization of the hashrate exposes the Bitcoin network to a significant risk of attack – 51%. But the world’s leading miners are unlikely to be interested in attacking the network.
More than half of the electricity used to mine Bitcoin comes from sustainable sources, according to the Bitcoin Mining Council.