Research has shown that less than 0.01 percent of Bitcoin investors hold more than a quarter of the cryptocurrency in circulation.
Investments in the digital currency are “highly concentrated,” with 10,000 investors owning around five million of the 19 million bitcoins in circulation, valued at $ 230 billion, scientists have found. In the United States, the top 1 percent of households own about a third of all wealth, according to the Federal Reserve.
Another turbulent year has seen rallies that have encouraged Bitcoin’s cheerleaders and escapes that heighten fears about its volatility. Currently, the value of the cryptocurrency has fallen by about a third since it hit a record high in November. Nonetheless, Bitcoin was up nearly 60 percent when it started in 2021.
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