Bitcoin’s journey to a $100,000 price milestone spanned over 5,200 trading days, hitting a market cap briefly exceeding $2 trillion, highlighting the network’s resilience and steady evolution, says a new analysis by Glassnode.
MILESTONE | #Bitcoin Surpasses the $100,000 Mark for the First Time in History
Since the start of 2024, Bitcoin is up by over 120% and by over 50% in the last one month since the election victory of U.S. President Donald Trump.https://t.co/Zc1PC4lDbM #Bitcoin100K pic.twitter.com/GnJYFtHqS4
— BitKE (@BitcoinKE) December 5, 2024
Since its inception, 19.8 million BTC – representing 94.2% of the total supply – have been mined.
According to Glassnode, the Bitcoin network has facilitated 1.12 billion transactions and settled a cumulative transfer volume of $131.25 trillion, with entity-adjusted data offering a more accurate depiction of genuine economic activity.
MILESTONE | #Bitcoin Hits One Billion Transactions Post 2024 Halving
With an average rate of 178,475 transactions per day throughout its 5,603-day existence, this milestone comes 15 years and 4 months after the mining of Bitcoin’s genesis block on January 3 2009.… pic.twitter.com/o9XI756t2x
— BitKE (@BitcoinKE) May 8, 2024
During this period of significant market growth, investors have realized $1.27 trillion in profits and incurred $592 billion in losses on-chain. This has led to a cumulative net capital inflow, or Realized Cap of $750 billion, highlighting the substantial value that has flowed into the Bitcoin network throughout its existence.
Out of the total mined Bitcoin supply, the distribution amongst different wallet size cohorts is as follows:
<0.001 BTC: 5,491 BTC (0.027%)
0.001–0.01 BTC: 42,683 BTC (0.216%)
0.01–0.1 BTC: 271,641 BTC (1.373%)
0.1–1 BTC: 1,077,839 BTC (5.446%)
1–10 BTC: 2,093,845 BTC (10.581%)
10–100 BTC: 4,306,780 BTC (21.761%)
100–1,000 BTC: 4,342,868 BTC (21.935%)
1,000–10,000 BTC: 4,693,216 BTC (23.716%)
10,000–100,000 BTC: 2,309,654 BTC (11.671%)
>100,000 BTC: 647,934 BTC (3.274%)
As of December 5 2024, significant aggregate balances included:
1.8 million BTC (9.1% of the total supply) held on exchanges, and
1.1 million BTC (5.6% of supply) managed by U.S.-based ETFs.
This reflects notable growth since the ETFs were launched on January 11 2024.
MILESTONE | ‘We Do not Approve Nor Endorse Bitcoin,’ Says United States SEC as it Approves 11 Spot #Bitcoin ETFs
This development represents a historic milestone in the integration of Bitcoin into traditional financial markets.
Below are the 11 approved products.… pic.twitter.com/Zn41cG9Ji0
— BitKE (@BitcoinKE) January 11, 2024
Additionally, miners held a balance of 700,000 BTC (3.5% of the total supply), while the U.S. Government Treasury retained 187,000 BTC (0.9% of supply).
As of December 5 2024, miners have earned a cumulative $71.49 billion for their computational efforts, based on the value of block rewards on the day the blocks were mined. This total consists of $67.31 billion from block subsidies through the minting of new coins and $4.18 billion in transaction fees paid by users.
This amounts to just 3.57% of Bitcoin’s peak market cap of $2 trillion, highlighting the significant return on the security budget invested in securing the network.
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