Bitcoin Study Finds Top 10,000 Investors Hold One-Third of Token

Bitcoin’s surging popularity hasn’t changed one of its original attributes. Its ownership is still concentrated in just a few hands.

The top 10,000 individual investors in Bitcoin control about one-third of the cryptocurrency in circulation, according to a study by the National Bureau of Economic Research.

Crypto enthusiasts have long pondered who the largest owners of Bitcoin are since the early days of the its existence. It can be especially difficult to determine the concentration of ownership, as many of the largest addresses don’t often represent individuals, but exchanges and other entities that hold Bitcoin on behalf of other ...