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0.01% of Bitcoin holders control 27% of all circulating coins: Study
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Less than 1% of the biggest Bitcoin (BTC) hodlers are allegedly controlling more than a quarter of all BTC in circulation, according to a new study.
The National Bureau of Economic Research, an American private nonprofit research organization, released a study claiming that 10,000 Bitcoin accounts, or 0.01% of all BTC holders, own 5 million BTC, or 27% of all 18.9 million coins in circulation.
The amount of BTC held by the “one percent” is equivalent to approximately $232 billion, The Wall Street Journal reported on Dec. 20.
Conducted by finance professors Antoinette Schoar at MIT Sloan School of Management and Igor Makarov at the London School of Economics, the study aims to demonstrate that Bitcoin is not that decentralized as one might
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