The entities that hold or hold Bitcoin are 23.1 million, but only 7 entities hold more than 100 thousand BTC
The basic problem in determining the number of users is often a factual error because there are no individual mappings to Bitcoin addresses and users.
This indicates that there may be users with more than one Bitcoin address and a particular address may also store funds from more than one user (addresses of crypto exchanges).
Glassnode tries to solve the problem by using standard heuristics and advanced data science methods and algorithms. The term 'entity' refers to any address that appears on the Bitcoin network, and does not have to be an individual.
The report compared active addresses and entities and concluded that in 2019, approximately 355,000 new addresses were added to the network every day, while the average number of new entities was around 100,000.
Data regarding whale or whale metrics (the large number of Bitcoin holders), there are 75 entities that own 10,000 BTC or more and only 7 entities own 100,000 BTC or more.
Coinbase topped the list, followed by Huobi and Binance. These entities alone account for 13% of the circulating Bitcoin supply. Overall, even if the factual aspects of the report are not completely accurate, the main idea is to reinforce the basic conclusion of bitcoin's healthy growth which has remained intact since the advent of BTC.
