The new record recorded by the Bitcoin network exceeds the total active addresses seen at the end of 2017, at which time the digital currency approached USD $20,000.

Beyond the price of the main digital currency and the volume of daily capitalized operations, the Bitcoin network registered a new record associated with the number of addresses with funds, since this figure exceeded 28 million units.

The growth in the number of wallets and BTC addresses active during the first nine years of the network was steadily increasing. However, at the beginning of 2018 this indicator experienced a certain drop but again increased and registered a new historical maximum that exceeds what was seen at the end of 2017.

Although researchers recognize that the number of addresses with BTC funds does not constitute a reliable indicator associated with the number of existing users for the digital currency at this time, some analysts detail that this data is important to estimate the degree of registered adoption to some extent by the cryptocurrency among people around the world.

Bitcoin addresses: Interesting facts

According to information reflected in our price index, the main digital currency currently registers a value close to USD $7,350, a price that doubles what was seen for the same date in 2018 when Bitcoin was trading around USD $3,416 per unit.

Although its current value does not approach the levels seen at the end of 2017 when the digital currency approached USD $20,000, analysts agree that at this time we are talking about a much more mature market with mostly organic growth, which would have very good Prospects for the coming years.

The increase in the number of addresses with stored BTC funds, in the opinion of some analysts, would reflect a much stronger and better grounded interest in digital currency, which many economists refer to as the new digital gold because of their utility as a mechanism to store value. This was reflected in a study recently conducted by the firm Charles Schwab, which indicated that Bitcoin is very popular among “Millennials” (investors aged between 25 and 39).

Other considerations

On the other hand, analysts agree that you have to look carefully at this data, since there are interesting factors that could increase this amount of active addresses.

Although it is a practice not recommended by experts in the field of digital security, many Bitcoin users keep their funds in addresses associated with exchanges just to operate faster, thus taking advantage of price fluctuations in their favor.

Given the characteristics of the protocol, a single user could have more than 1,000 associated addresses and thus provide greater anonymity for their operations through the network. However, it is interesting that the more than 28 million addresses hosted contain funds, taking into account that at the time of editing there are only a total of 18,093,875 BTC circulating.

Finally, it is convenient to consider that another study carried out by CoinMetrics also ensures that around 1.6 million circulating bitcoins are completely inaccessible, mainly due to the loss of the hardware in which they were stored or the loss of the private keys necessary to access funds.

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