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(See likewise: The 6 Most Crucial Cryptocurrencies Other Than Bitcoin) According to bitinfo, which tracks the total number and value of bitcoin addresses, 75% of addresses are home to less than 0. 01 bitcoin, and 97. 54% have a balance of less than one bitcoin. So at  This Is Cool  existing cost of $10,100, three-quarters of bitcoin addresses are worth just over $100.

0000106%. And in financial terms, the bitcoin millionaire buzz is more a fuzz. Just 0. 07% percent of addresses are worth more than $1 million whereas 74. 5% of addresses deserve less than $1. So when Erik Finman, the 18-year old school drop-out told CNBC he became a millionaire by investing cash from his granny into bitcoin, there's no need to feel silly.

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How it compares to U.S. stocks? If bitcoin isn't making you abundant, then the record stock exchange rates must be ideal? Once again, not actually the case. While concentration of wealth in U.S. stocks is nothing compared to cryptocurrency markets, the diminishing variety of people taking advantage of the bull market paints a quite clear photo of the total possession concentration in the U.S.

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However, the decade-long bull rally is making less Americans wealthy. According to New york city University professor, simply 13. 9% of Americans directly own stocks, and the bottom 60% of U.S. households own just 1. 8% of stocks. And much like bitcoin, ownership is highly focused with the top 1% owning more than 40% of stocks.

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However, reddit threads and chat spaces stay clustered with lovers. However do not be fooled, there are just 166,853 addresses worth more than $100,000. Simply put, 0. 05% of Americans have slightly less than the average U.S. household income in bitcoin. Minus tax. Minus deal costs. And with the current slide in the rate of bitcoin this small section of society may become less rich.