Bitcoin Distribution Becomes More Transparent
The open and traceable nature of Bitcoin’s blockchain allows anyone to analyze its distribution. Despite not revealing personal identities, the network provides insight into how coins are spread across wallets. Currently, nearly one million addresses now hold at least one full Bitcoin — a milestone that highlights long-term accumulation.
Satoshi Nakamoto, Bitcoin’s pseudonymous creator, still holds the largest known single stash at roughly one million BTC, or over 5% of the total supply. But the broader growth in addresses reaching the 1 BTC threshold reflects a global movement toward individual ownership.
Approaching the One Million Wholecoiner Milestone
As of May 8, 2023, 997,919 Bitcoin addresses contain at least one BTC, each worth about $27,500 at the time. This number represents just over 2% of all non-zero Bitcoin addresses. With the median U.S. salary at roughly $56,400, owning one Bitcoin equates to about half a year’s income — and considerably more in most other countries.
While not every address corresponds to a unique individual, the milestone signals broader interest in self-custody and long-term holding. Max Coupland, director of CoinJournal, described the moment as “remarkable,” noting that “ten years ago, one Bitcoin was just a small amount of money. Now we’re nearing one million addresses with at least one Bitcoin.”
How Price Movements Affect Bitcoin Distribution
Bitcoin’s volatility has played a major role in its distribution trends. After peaking near $69,000 in November 2021, BTC’s price fell sharply through 2022, making it easier for investors to accumulate one full coin. The steep price decline spurred a noticeable jump in wallets holding at least one BTC starting in early 2022.
Conversely, during Bitcoin’s explosive rally from $7,000 in early 2020 to nearly ten times that by late 2021, growth in “wholecoiner” addresses leveled off, as prices moved beyond reach for many retail investors.
The Future of Wholecoiner Status
Even though owning one Bitcoin has become more achievable amid recent corrections, it remains a significant sum. Should Bitcoin revisit its all-time highs, the rate of new wholecoiners will likely slow again. Conversely, further price drops could make the milestone more accessible — though perhaps less desirable for some investors.
Regardless of market cycles, the milestone highlights Bitcoin’s maturing distribution and continued global participation in the crypto economy.
