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Bitcoin Halving Demystified: What You Need to Know

What is Bitcoin Halving?

Bitcoin halving is a scheduled event that occurs once every 210,000 blocks, or approximately every four years, that reduces the reward for mining Bitcoin transactions by half. This mechanism is built into the code of Bitcoin by its creator, Satoshi Nakamoto, to control inflation and mimic the scarcity of precious metals. The next halving event is scheduled for April, making it a hot topic in the cryptocurrency community.

Why Does Halving Matter?

The halving event is significant for several reasons. Firstly, it impacts the supply of new Bitcoins entering the market. By reducing the reward for miners, the rate at which new Bitcoins are generated slows down, which can lead to decreased supply and increased demand. Historically, this has had a bullish effect on the market in the months following the halving.

Moreover, halving is seen as a milestone that reinforces Bitcoin’s value proposition as a deflationary currency, unlike fiat currencies which can be printed indefinitely. This scarcity principle is a key reason why many view Bitcoin as “digital gold.”

Historical Impact of Halving:

Looking back, the Bitcoin price has shown a significant upward trend following past halving events. While past performance is not indicative of future results, these patterns are closely studied by investors as they speculate on the cryptocurrency’s future value.

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Conclusion:

As we approach the next Bitcoin halving, it’s important for investors and enthusiasts to understand its implications. While the event may lead to increased market volatility in the short term, the underlying principle of reduced supply is generally seen as a positive factor for Bitcoin’s long-term value. Whether you’re new to cryptocurrency or a seasoned investor, the halving presents a unique opportunity to reassess your investment strategy in the context of Bitcoin’s programmed scarcity.

The best time of the .year to buy bitcoin is the second half of September The best time of the .year to buy bitcoin is the second half of September

When is the Best Time to Buy Bitcoin?

A prominent cryptocurrency market analyst by the name of CryptoBirb has expressed their viewpoint on Bitcoin.

According to him, historical data indicates that the optimal yearly moment to buy bitcoin falls at the conclusion of September.

Statistically, October and November generate the biggest returns, especially as they come after a bear market.

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Numerous investors voiced their concerns over Bitcoin’s (BTC) lackluster performance in September. A significant portion had already departed the market before the summer hiatus, adhering to the adage: “Sell in May and go away.” Nonetheless, it seems that the present moment might be the ideal opportunity to reorient attention towards the broader crypto and BTC market.

A renowned expert in the cryptocurrency market, CryptoBirb, recently released a brief examination on platform X, delving into the historical performance of BTC throughout the calendar year. CryptoBirb’s analysis points to September, traditionally regarded as the least robust month, emerging as the most promising period for potential market gains. Following closely behind are the two months with the strongest statistical track record for profitability: October and November.

Adrian Zduńczyk talks about the.best time to buy bitcoin.
Adrian Zduńczyk, CMT

September is a BTC Buying Opportunity

CryptoBirb AKAAdrian Zduńczyk, CMT

As September draws its final breaths, consider it the bargain aisle for Bitcoin enthusiasts if you plan to buy bitcoin! History, the ultimate market historian, tells us that September is the misfit in the annual calendar – the lone wolf in the world of Bitcoin profitability. Now, as CryptoBirb would quip:

“The second half of September is an insanely good opportunity to buy Bitcoin.”

CryptoBirb AKAAdrian Zduńczyk, CMT

Simultaneously, the analyst humbly concedes that this thesis won’t summon the ultimate “buy the dip” moment of the week. It’s a calculated hunch, rooted in statistical wizardry, but it’s no crystal ball into Bitcoin’s future performance.

Yet, history has a peculiar penchant for rhythm, especially in the cyclic dance of the Bitcoin market. Thus, as we spin through the record books, let’s talk numbers: October and November. CryptoBirb doesn’t blink when declaring this dynamic duo as the MVPs for seizing those long positions on BTC. 🚀

Fourth Quarter of the Year: Biggest Returns for Bitcoin

To back CryptoBirb’s intriguing hypothesis, we can turn to the numbers brought forth by the data maestros at Coinglass. They’ve got an arsenal of stats covering every beat in the BTC market, from daily drumrolls to quarterly symphonies.

Now, let’s dive into the rhythm of the crypto world. Imagine each year as a groovy album: the fourth quarter (October-December) consistently drops the most profitable tracks, while the third quarter (July-September) tends to serve up the sleepy ballads. Zoom in on just this span, and it becomes clear – we’re talking about the ultimate BTC shopping spree. And guess what? We’re right in the midst of it, folks – the last few weeks of September are like the encore of a blockbuster concert if you are planning to buy bitcoin. 🎸💰

Bitcoin Quarterly Returns (%)

Best time to buy bitcoin? Check these quarterly returns.
Bitcoin quarterly returns / Source: Coinglass

Now, let’s jazz things up a bit and take a stroll through the monthly returns in the Bitcoin trading arena. As per CryptoBirb’s keen observations, September emerges as the annual “seeing red” month. It’s like that one friend who insists on wearing neon to a black-tie event.

However, in the grand chronicle of Bitcoin’s history, there were just two years – the crypto equivalent of style icons – 2015 and 2016, when September decided to tone down its drama and churned out modest profits: a mere 2.35% and a still-respectable 6.04%, respectively. It’s almost as if September was channeling its inner Wall Street for those brief moments. 📈💡

In contrast, the next two months are completely different. October has closed in the red only twice so far – in 2014 (-12.95%) and 2018 (-3.83%). November, on the other hand, has been in the red 4 times – in 2018 (-36.57%), 2019 (-17.27%), 2021 (-7.11%) and 2022 (-16.23%).

However, even though November more often generated losses, that month’s profits were historically the largest. Therefore, the penultimate month of the year is statistically the most profitable. However, more conservative investors may pay more attention to October, which produced smaller but more stable profits and rarely minimal losses.

Bitcoin Monthly Returns (%)​

Bitcoin monthly returns / Source: Coinglass

Past Performance vs. Future Results

Perusing the data constellation above, it’s safe to say that CryptoBirb’s insights are right on the money. Those waning days of September might just be the golden ticket for snagging some Bitcoin, especially if you’ve been patiently waiting for the long-term bear to exit the scene, which it did with the grand finale of 2022.

But here’s the age-old reminder: “Past performance is not indicative of future results.” Historical data is our trusty compass, shedding light on market patterns, but it’s just one star in the galaxy of financial complexity – not the North Star, mind you. In this intricate cosmos, we’ve got a constellation of factors to consider, and historical data is but one twinkling luminary.

Unveiling the Fascinating World of the Bitcoin ATM

In the ever-evolving world of finance, there’s a delightful presence that’s been quietly making its mark: Those charming Bitcoin ATMs, or BTMs for short. They’ve sprouted up in the corner store, the gas station, and even the casino. Aren’t they just the bee’s knees? But let’s put on our inquisitive hats for a moment and ponder: what’s the scoop behind these nifty contraptions?

You see, the global demand for Bitcoins and other cryptocurrencies has been on the rise. As a result, the clever minds in the cryptocurrency realm have been hard at work. For instance, they’ve been striving to seamlessly integrate this “new frontier” into our everyday lives: enter the Bitcoin ATM.

People queue at a Bitcoin ATM
Bitstop Bitcoin ATM

Picture this: Before Bitcoin ATMs entered the scene, the cryptocurrency world resembled the Wild West. Every transaction, no matter how big or small, took place through rather “unconventional” means. At Bitstop, we fondly refer to that era as the “last mile problem.” Why, you ask? Well, on the grand timeline of cryptocurrency history, this was the final frontier before it evolved into a scalable entity.

But fast forward to today, and we find ourselves in a world where people crave the ability to transfer their assets reliably and securely. Enter the era of Bitcoin ATMs, the new normal.

These remarkable crypto machines have made cryptocurrency transactions as effortless as using a standard bank ATM to withdraw or deposit cash. Say goodbye to the tedious online rigmarole and hello to a convenient and familiar way of exploring the cryptocurrency market.

Now, you might wonder, “Familiar, you say? How does it all work?” It’s a piece of cake, really, they operate in a manner reminiscent of the bank machines you’ve frequented in the past.

You verify your identity, deposit your cash into the machine, and voilà, your transaction is complete. No tricks, no convoluted processes – just a straightforward and familiar exchange. Additionally, these machines have been artfully designed to streamline the cryptocurrency transaction experience. Also, Bitcoin ATMs ensure a safe and secure, seamless process. In an age where digital currency is maturing rapidly, ATMs have proven to be an essential component of our financial landscape.

Let’s turn the pages of history for a moment, shall we? The very first cryptocurrency ATM made its debut in 2013. Then, after a journey fraught with regulatory twists and turns, 2015 welcomed some of the initial licensed vending machines to the market, including the illustrious Bitstop BTMs. The agreement was clear: legitimate Bitcoin ATMs had to adhere to the same regulations and laws as their traditional counterparts, complete with limits on withdrawals and deposits.

So, there you have it – a warm, witty, and knowledgeable glimpse into the fascinating world of Bitcoin ATMs. Hope you enjoyed the journey from the Wild West to the reliable and secure heart of our digital financial future. Courtesy of Bitstop.

What Gives Bitcoin Value?

Bitcoin has experienced a lot of up and down movement in the last two years, a period that has marked many first all-time highs for the asset. In early January 2020, Bitcoin was trading at around $7,200 and has been steadily climbing since then. In January 2021 the asset took less than a month to surpass $40,000 from $28,000 in December 2020 and on April 14, 2021, it reached a peak of more than $65,000.

Certain factors such as institutional interest fueled the price upward, causing the price to reach its all-time high of $68,000 in November 2021, an 844% increase since then. Bitcoin however experienced some lows, trading below $30,000 in July 2021. It has since recovered and is currently trading above $43,000.

In this period, Bitcoin has been used as a store of value by many people, jaded by the state of the economy especially after the onset of Covid-19.

What gives gold value

In order to understand the value of bitcoin one must understand the origins of currency itself. The value of gold has been influenced by the many use cases of the asset such as expensive jewelry, store of value, means of exchange and as an artifact meaning it is a high worth commodity. Over the years the demand for gold has increased as the amount in central bank reserves has significantly reduced, causing scarcity. As such, the inefficiencies in demand and supply have pushed the value upwards. Additionally, the supply of gold is finite given that it is mined in a few places in the world. Therefore, although there is demand for the commodity, its supply is limited.

What gives USD value

The gold standard was the monetary system used by countries such as Britain and the U.S. where the currency was directly linked to gold. In 1971, President Richard Nixon announced that the U.S. would no longer follow the gold standard which converted dollars to gold at a fixed value, giving USD value as it was the only accepted means of payment.

Fiat money is a more flexible instrument to the current complex financial world and USD has served as a means of payment for many years. The currency is also used as the standard currency unit in which goods are quoted and traded and through which payments are settled in the global commodity markets.

What gives BTC value

Bitcoin is a consensus network that enables a new payment system and a digital monetary system. It was the first decentralized digital-peer-to-peer payment network that is powered by its users, eliminating central authorities and middlemen. The creator of Bitcoin, Satoshi Nakamoto, made it a decentralized platform without hierarchical structures seen in many organizations that have contributed to inequality, and lack of transparency.

The decentralized nature of the network has created value for Bitcoin, as control and decision making are not set by a small group of people. All users of the platform have power to make decisions, making it hard to corrupt the system.

Bitcoin introduced the blockchain system that has been adopted by hundreds of platforms to ensure security, transparency and public records on the technology. Without Bitcoin, most of these systems could not exist today. Therefore, the value of Bitcoin can be reflected from the success that these projects that have adopted its technology have attracted, as well as their solutions in the ecosystem. The blockchain technology has consequently revolutionized the way organizations function, ensuring transparency of tasks and decisions as well as making sure records are publicly accessible to users.

The supply of Bitcoin is maxed at 21 million, meaning that there can only be that number in existence in the world. The set number has introduced a fear of missing out (FOMO) in the public who have held large quantities of the asset before the last remaining millions are mined. On average, these Bitcoins are introduced at a fixed rate of one block every ten minutes. The number of BTC released in each of these blocks is reduced by 50% every four years, with the last halving, as it is commonly referred to, having happened in May, 2021. Currently, close to 19 million Bitcoins have been mined.

In many ways, Bitcoin is considered a digital gold. For instance, Bitcoin cannot be created randomly as it requires mining like gold, although Bitcoin is mined through computational means. The mining process ensures that transactions are validated, flow of the asset as well as actors in the system are compensated. The value of this mining process validates Bitcoin as an asset in the financial system.

Effects of the pandemic on Bitcoin

The pandemic is attributed to the burst in activity of Bitcoin because it shut down the economy. The government policies fueled investors’ fears about the global economy, resulting in the rise of Bitcoin, since it could not be regulated by federal governments.

The pandemic also crashed a huge part of the stock market in March, 2020 causing the government to print more money. Consequently, investors and large corporations resulted to holding their assets in BTC as supply is capped at 21 million. Investors were looking for more alternatives to serve as a store of value.

The release of the stimulus checks caused a rebound of Bitcoin from March lows and led to the achievement of new all-time highs. The checks also increased concerns over inflation and a potential weakened purchasing power of the USD leading to inflation. The narrative drew more institutional interest to Bitcoin, leading to multiple companies adding BTC to their balance sheets.

Conclusion

The value of Bitcoin cannot be disputed especially after its rise in the last five years. Owing to the centralized financial and federal systems, many organizational and individual investors have turned to Bitcoin as a store of value and investment option. Apart from being a decentralized, secure, public system, it has also proven to be a great saving mechanism due to the price movements.

 

What is a Bitcoin Wallet?

Exploring the ins and outs of Bitcoin Wallets: An In-depth Review

Introduction

Dealing with any sort of currency, be it fiat or crypto, comes with several basic obligations users have to contend with. The paramount obligation being a place to store the funds safely and securely. Cryptocurrencies like Bitcoin also need a secure storage location, but since they are digital in nature, they can only be held in an electronic wallet.

Whether one is hoping to use their cryptocurrency to purchase goods or services right away or they are planning on investing it for the long term, a secure electronic location is needed to store the funds. This is why a Bitcoin wallet is needed and luckily, they function in an almost similar manner to physical billfolds; they update the quantity of cryptocurrency stored and securely store the information proving ownership of the coins held within them.

How Bitcoin Wallets Work

Dealing with any sort of currency, be it fiat or crypto, comes with several basic obligations users have to contend with. The paramount obligation being a place to store the funds safely and securely. Cryptocurrencies like Bitcoin also need a secure storage location, but since they are digital in nature, they can only be held in an electronic wallet.

Whether one is hoping to use their cryptocurrency to purchase goods or services right away or they are planning on investing it for the long term, a secure electronic location is needed to store the funds. This is why a Bitcoin wallet is needed and luckily, they function in an almost similar manner to physical billfolds; they update the quantity of cryptocurrency stored and securely store the information proving ownership of the coins held within them.

Public Key

In the simplest terms, a public key is a cryptographic code that enhances the facilitation of transactions between users. It allows users to receive cryptocurrencies in their accounts/wallets. With the public key, users can verify the transaction’s digital signature, which is a proof of ownership of the private key.

Private Key

One might think that these wallets’ sole purpose is to store Bitcoin, however, the wallet itself is a representation of cryptographic control over a blockchain address. After initiating a transaction, users receive a set of secret numbers known as private keys, which correspond to their blockchain address book. The private keys are used to sign Bitcoin transactions which gives the user control of the coins in that address.

Users are encouraged to secure their private keys and public keys as much as they can out of reach from attackers because these can be used to move the Bitcoins from their addresses to the attacker’s wallet. It ought to be treated like a password to an online banking account that should not be shared.

Picking a Bitcoin Wallet

Hot and Cold Wallets

Hot wallets are tools that allow Bitcoin owners to store, receive, and send coins. Unlike a cold wallet, a hot wallet is connected to the internet. The hot wallets are linked to the public and private keys mentioned above to help facilitate transactions. Since they have an internet connection, these types of wallets are somewhat vulnerable to hacks. However, most users prefer using hot wallets for convenience rather than security.

Cold wallets, on the other hand, focus on a ‘cold storage’ method for storing a user’s Bitcoin and they have no internet connection. These wallets come in the form of hardware wallets, paper wallets, or a USB stick. They are more secure from outside infiltration because their protocol is completely offline.

Custodial or Non-custodial Wallets

For a non-custodial wallet, users get to enjoy full control of their funds but they have to hold on to and own their private key. Users have to hold the keys in encrypted storage and take full responsibility of their funds. The non-custodial wallets can be hardware devices like USB drives disconnected from the internet, web and mobile wallets that can be accessed on any device using a private key login, and desktop wallets that are strictly found on the user’s preferred computer’s desktop. Non-custodial wallets require users to enter an alphanumeric code each time they want to access their funds.

Custodial wallets bring in an air of convenience to those joining the crypto scene because the first time a user purchases crypto, their funds will get deposited in a custodial exchange crypto wallet. The exchange where the funds will end up is the custodian of your funds; they hold your keys and are responsible for providing the security of your funds. Compared to non-custodial wallets, the custodial wallet is the most preferred one in the crypto ecosystem because users do not have to contend with a lot of responsibility, plus they are more convenient. Users are encouraged to use reputable custodial wallets; a good place to start would be looking into the major U.S. crypto exchanges offering these services.

Types of Wallets

There are multiple software wallets to choose from when one wants to find a location for storing their cryptocurrency. Software wallets are connected to the internet and simply put, it is a wallet that one can download on a smartphone or on the desktop of their computer. As it was mentioned earlier, newcomers to the crypto sphere should conduct proper research on the reputable crypto exchanges in the U.S. and choose one that works for them (the U.S. places strict regulations on the crypto ecosystem so it would be hard to find an exchange out to abscond with user funds).

One simple and reliable Bitcoin software wallet is HODL Wallet. Simplicity and reliability are good features to look out for, but the best-selling feature for HODL Wallet is their security. The HODL Wallet application is available on Google Play and Apple App Store for download and this guide serves as a stepping stone to getting started on securing your coins.

The old crypto custodial adage goes ‘Not your keys, not your crypto.’ This is the phrase that best explains the hardware wallet scene. They are physical devices like thumb drives that store a user’s private keys and they are secure enough to use with a device you do not trust. The transaction validation process takes place within this physical device and not the computer, this is because the private key never leaves the hardware wallet.

A good example of a hardware wallet is Trezor, Bitcoin’s first legitimate and secure physical wallet built by SatoshiLabs. With Trezor One and Trezor Model T already out, the company pioneered the development of an isolated environment for offline transaction signing when crypto was in its infancy stages. This hardware wallet also stands out because it minimizes the risk of private key discovery even when the device being used is infected by malware.

The Safety of Bitcoin Wallets

It goes without saying that hardware wallets are the safest, first because they are disconnected from the internet and it gives a user sole responsibility to take all the precautions they can to protect their funds without involving a third party. Non-custodial hardware wallets are tough to infiltrate because users have to remember a long word seed phrase (usually 12 to 24 words) composed of random words before accessing their account. With such a recovery method in place, attacks are almost impossible, unless one shares their backup recovery seed phrase with an outside party. The safety of one’s account is literally in their hands, and it is up to the user to keep their funds safe.

Conclusion

The Bitcoin wallet environment has come a long way, from hard-to-use days to the seamless transaction speeds enjoyed today. The ecosystem is going even further with the incoming smart Bitcoin wallets that are poised to offer better crypto storage experience while granting users full control over their assets just like hardware wallets do. Custodial wallets are popular but just like any other crypto feature, users always demand for more control over their digital assets, just like decentralization requires. Non-custodial wallet providers should now look into ways of revamping the antiquated alphanumeric address and seed phrase process.

How to use a Bitcoin ATM?

Thinking about getting into crypto? Using a Bitcoin ATM is the easiest way to start your first #DeFi journey. In this article, we will explain the most simple and convenient way to buy Bitcoin.

The easiest way to buy Bitcoin with cash

Most people believe that buying Bitcoin is a complicated process, which takes hours of preparation and lots of technical knowledge. However, that’s not true. Did you know there are thousands of Bitcoin ATMs across the United States where you can buy cryptocurrency with cash?

First, let’s explain how a Bitcoin ATM works.

What is a Bitcoin ATM?

A Bitcoin ATM is basically an internet-connected device that allows you to insert or withdraw cash in exchange for Bitcoins by using a digital wallet.

The machine looks just like a regular ATM and is easy to use. It verifies your identity and allows you to scan your wallet’s QR code for completing the selected transaction.

You scan your Bitcoin Wallet QR code so the Bitcoin ATM knows where to send the bitcoin. You then insert the cash and the Bitcoin ATM instantly sends the bitcoin to your wallet. Simple and safe.

Pros of using a Bitcoin ATM

Bitcoin ATMs are currently available in many countries around the world (see here Bitstop’s current location list). Most of them are concentrated in North America and Europe but we’re seeing more and more Bitcoin ATMs pop up in other regions like Australia, Chile, or New Zealand.

Now, let’s look at the pros of using a Bitcoin ATM:

  • Fast and easy transaction
  • You can buy Bitcoin instantly with cash — no need of different cryptocurrencies or pointless exchanges
  • Safe and convenient
  • Thousands of Bitstop Bitcoin ATM locations in the US
  • Instant. #Buythedip
  • Customer phone and email support
  • Bitcoin ATMs make you feel extra cool and futuristic (we swear!)

Bitcoin ATMs are perfect for buying Bitcoins locally because they are instant. You don’t have to go through the hassle of waiting days for an ACH to clear to buy from an online exchange. You get your bitcoin instantly.

What should you bring with you before using a Bitcoin ATM?

You need 4 things to start using a Bitcoin ATM.

  • Your ID
  • Cash
  • Smartphone
  • Digital Wallet for Cryptocurrency

Yes, it’s just that simple!
Your ID is needed to verify your identity. All of your Bitcoins are stored in your Crypto Wallet, right on your smartphone for easier access.

When it comes to choosing the right digital wallet for your Bitcoin, we suggest using HODL Wallet on your smartphone. All you need is to download the app from Google Store or Apple store. This wallet is very secure and easy to use.

Step-by-Step Guide: How to use a Bitcoin ATM by Bitstop

Find the nearest Bitcoin ATM

First, you need to find the Bitcoin ATM closest to you. You can check out Bitstop’s ATM locations and navigate through the map. Most of the machines are placed nearby and are typically open 24 hrs. Don’t forget to bring everything that you need for a successful transaction — your ID, smartphone, and Bitcoin wallet.

Tap “Buy Bitcoin”

You’re now in front of the Bitcoin ATM and you’re ready for your first purchase! Start by tapping the “Buy Bitcoin” button on the screen!

Enter your phone number

The next step is to write down your phone number by using the touchscreen. Then, hit “Enter”. That way Bitstop can message you a temporary SMS code, needed for the transaction.

Enter a temporary pin

You have now received a text with a temporary SMS code. Enter it on the screen and proceed.

Set up a secret PIN

Considering you’re a first-time customer, you will need to come up with a 4-digit secret PIN. Remember this code for even easier access in the future!

Scan your ID

It’s very important that all users stay safe, that’s why identity verification is a must in the crypto world. For that, you need to scan the barcode at the back of your ID by pointing it at the scanner below the screen.

Scan your Bitcoin Wallet

Next, open your Bitcoin Wallet on your smartphone and select “Receive”. Scan the Wallet’s QR Code by pointing it at the same scanner placed below the screen. That’s how the ATM makes sure that your Bitcoin is delivered to the right place, so make sure you’re giving the right information. ONLY USE YOUR OWN BITCOIN WALLET. Never send Bitcoin to someone else’s wallet directly from the Bitcoin ATM.
 

Insert Cash

You can now insert your cash. The screen will load your exchange rate. Check the information, review your purchase, and hit “Send to Wallet”.

Congrats! You did it!

You will immediately receive the desired amount of bitcoin right into your HODL wallet! There’s also a receipt that you can print for your records.

Bitstop’s transactions happen instantly. If there’s a higher demand on the Bitcoin Network, your wallet may need up to 30 minutes to show completed purchase. If there are any questions, you can always contact our customer support via email or phone.

If you’re more of a visual learner, you can also watch our step-by-step video tutorial on using Bitstop’s ATM: How to buy Bitcoin from a Bitstop Bitcoin ATM

Have fun using Bitcoin ATMs. They are one of the best ways to invest in bitcoin for beginners.

Who owns the most Bitcoin?

Who owns the most Bitcoin? If you ask this question to any crypto trader, they will tell you it doesn’t matter. It is all based on supply and demand, meaning that it doesn’t impact the price one way or another if a single person owns more of a coin than someone else.

However, Bitcoin whales are very important for the crypto community.

As of the latest data, there are 114 million crypto holders around the world. Out of them, the top 10k richest Bitcoin holders collectively hold about 5 million Bitcoins. This means that 0.01% of all Bitcoin Holders control 27% of the BTC circulation. (Source: WSJ)

But, who are these people?

Crypto exchanges: The richest Cold Storage Wallet Owners

#1 Binance

Binance owns the largest cold storage wallet address, which as of 2022, holds more than 252,597.22678490 BTC or over 9 Billion dollars and 1.33% of all coins. The first exchange happened on 2018–10–18 at 15:59:18.

#2 Bitfinex

Next up on the list is Bitfinex with 168,010 BTC — over 6 Billion dollars.

#3 Anonymous

Bitcoin’s third-largest non-exchange whale address is 100% anonymous and holds about 127,112 BTC (over 4 Billion dollars).

How much Bitcoin does Satoshi Nakamoto own?

Of course, Satoshi Nakamoto is considered to be one of the richest BTC owners in the world. However, he is not even in the top 100 list.

As of 2022, the current value of this address is over 68.542667 BTC, which equals more than 2 million dollars (at the time of writing this). Nobody knows who the real Satoshi is, so this can be a man, woman, or a group of individuals. However, the address stores information about the very first block mined.

In the corporate world: Which company owns the most Bitcoin?

Besides exchange platforms, MicroStrategy is considered to be the corporation owning the most Bitcoin in the world — over 121,044 BTC. The company develops enterprise software solutions for businesses working with big data and also helps them in adding Bitcoin into the process.

The Government with the most Bitcoin in the world

Bulgaria

It is believed that the Bulgarian Government holds the second-largest amount of Bitcoins in the world — around 213.000 Bitcoins (over 804 million US dollars). This is more than the country’s Gold Reserve and can almost cover the country’s GDP.

Top 5 Countries with the most Bitcoin Holders

Let’s think globally! When it comes to Bitcoin, there’s another ranking that needs some special attention.
According to the latest data, the top 5 countries with the most cryptocurrency holders are the following:

India

  • 100 million crypto holders
  • 7.30% of the population

USA

  • 27 million crypto holders
  • 8.31% of the population

Russia

  • 17 million crypto holders
  • 11.91% of the population

Nigeria

  • 13 million crypto holders
  • 6.31% of the population

Brazil

  • 10 million crypto holders
  • 4.80% of the population

Famous people owning Bitcoin

Do you know who the most famous Bitcoin owners are?

Let’s start with the most obvious — Elon Musk.

Elon Musk — the Crypto Meme King

It’s no secret that Musk’s tweets and memes have a pretty big influence on the market and can even cause volatility. But how much BTC does Elon own?

Even though his public address can’t be found online, it is believed that Tesla holds 42,902 bitcoins, worth around $2.8 billion. According to Bitcoin treasuries and an annual report of the securities exchange, the company is the second-biggest corporate crypto holder.

Shark Tank’s Favorite, Mark Cuban

The famous Shark Tank investor has publicly shared that he, personally, owns Bitcoin and a little bit of Dogecoin. On a podcast, Cuban shared that his crypto portfolio consists of “60% bitcoin, 30% Ethereum, and 10% the rest.” The businessman believes that Bitcoin is “a better alternative to gold” and that’s the reason why he never sold it. However, we’re unaware of the exact amount of BTC.

50 Cent becoming a bitcoin billionaire… And totally forgetting about it

Are you aware of this amazing story?

In 2014, 50 Cent decided to accept Bitcoin payments for his album “Animal Ambition”. However, he completely forgot about it, until recently. According to Coindesk, these crypto sales made the rapper around 8 million dollars in BTC. What a lucky man!

Can you spot the Bitcoin billionaire?

Even though Bitcoin holders remain anonymous, a lot of researchers try to figure out the demographics of a typical holder.

According to the latest data, 79% of the holders are male, while 21% are female. Most of them are under the age of 34 (58%) with a Bachelor’s degree (82%) and an annual income over US$100k (36%). (Source: Cryptocurrency across the world by Triple).

Do you believe that this profile fits the world’s richest Bitcoin billionaires?

Is it possible that you’re already have a friend that’s a crypto billionaire without even knowing?

We would definitely try our best to spot them in the wild, so pay close attention next time that you’re at a Bitstop ATM. 😉

Is it possible to predict the future price of Bitcoin?

Bitcoin prices have been on a wild ride over the past few years. From just a few dollars per coin to an overall-time high price of $64,800 was reached on April 14, 2021, prices have seen some serious highs and lows. So can Bitcoin price be predicted? And if so, what are some factors that could affect future prices?

In this blog post, we will take a look at some of the research that has been done on Bitcoin price predictions, and try to come up with our formula for creating a forecast for the future

Bitcoin Price Prediction: Factors

If you’re thinking about buying Bitcoin, you’re probably wondering if prices can be predicted. Unfortunately, Bitcoin price predictions are not that simple and it is best not to rely on any one sort of information for predictions. While there are some methods that may help you with your forecast, nothing is 100% accurate.

Crypto is a volatile market, which means that prices can change rapidly and without warning.

No financial advice can definitively say whether or not the price of Bitcoin will go up, but there are certain factors that can give us a general idea of where prices might go.

Supply and Demand

One of the first things to consider when trying to predict Bitcoin price is the fact that there is no central authority or government controlling the currency. This means that prices are largely driven by supply and demand, as well as speculation. When there is more demand for Bitcoin than there is available supply, prices will go up. And when there is more supply than demand, prices will go down. This basic economic principle has been one of the main drivers of crypto prices over the past few years.

Adoption

Another important factor to consider when predicting Bitcoin price is market adoption. The more people who use and accept Bitcoin as a form of payment, the higher the prices will be. We are already seeing this happen with more and more businesses starting to accept Bitcoin as payment thanks to Bitcoin ATMs and other high-tech developments. So remember: as adoption increases, we expect prices to continue to rise.

You may want to run a weekly on monthly check of the number of merchants who accept Bitcoin as payment and the number and size of investment funds investing in Bitcoin at the moment. These indicators can give you a better understanding of the market.

Check out the Bitstop Locations page for the latest data on Bitstop Bitcoin ATMs in the US.

Media Coverage

The amount of news and media coverage surrounding a particular coin can affect its price. If there’s a lot of positive news, investors may feel confident buying in, driving the price up. Similarly, if there’s negative news, investors may lose confidence and sell off their holdings, leading to a price drop.

Let’s say you’re reading a lot of new publications about the increase of adoption rates or new partnerships in the fintech industry — then most likely the price of Bitcoin tends to go up at that very moment. However, if there are lots of new wallet hacks or new government regulations, then the price of Bitcoin usually is in a tendency of going down.

That’s why it’s important to follow unbiased and authoritative sources.

Law and Regulation

Finally, another factor that could affect future Bitcoin prices is regulation. Currently, there is very little regulation around cryptocurrency trading. However, this could change in the future if governments decide to crack down on the industry.

As regulations become stricter, it could have a negative effect on prices. It’s important to keep up with the latest legal framework suggested by the U.S. Senate, the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the European Union (EU).

Bitcoin Price Prediction with Analysis

There are a number of factors that can affect the price of Bitcoin, which makes it difficult to give an accurate forecast. However, some analysts believe that by looking at the historical data and trends, it is possible to make a fairly accurate prediction.

Technical Analysis

This leads us to the one popular method for predicting Bitcoin prices, called technical analysis. Technical analysts believe that they can identify patterns in past price movements and use this information to forecast future prices. This method is evaluating investments by analyzing statistical trends gathered from trading activity, such as past prices and volume.

You may have heard of support and resistance levels in crypto price charts. Those are the points where the price has had trouble breaking through in the past. These levels help technical analysts with predictions and give them an idea of where the price might struggle in the future.

Fundamental Analysis

Similar to technical analysis, we have fundamental analysis. Fundamentalists believe that they can identify factors that will affect the demand for Bitcoin and use this information to predict price movements. Those experts focus their attention on economic indicators or political events that can change the market.

No matter which method you choose to follow, remember that predicting Bitcoin prices is a risky business. The efficacy of both technical and fundamental analysis is disputed by the efficient-market hypothesis which states that stock market prices are essentially unpredictable. Always do your own research and never invest more than you can afford to lose.

Historical Analysis

Looking at previous price history can be another factor to include in your overall analysis. Long term trends aren’t to be solely relied upon but can be very helpful when trying to put together a comprehensive analysis of future price predictions. Bitcoin in the short-term is volatile and can move up or down sharply without much rhyme or reason. The long term trend over the last decade shows us that Bitcoin goes up in the long-term compounding at roughly 100% — 200% per year.

Will the price of Bitcoin go up or down?

You probably have heard all the positive predictions believing that the Bitcoin price will continue to rise in the long run. However, just like in any market, there will likely be some volatility along the way. And you should be prepared for it. Bitcoin might be a better long-term hold rather than a short-term quick cash grab.

By analyzing the factors that we’ve summarized for you, you may be able to develop a better understanding of what direction the price is likely to move in and make more informed predictions. Before making any decisions, be sure to do your own research and consult with a financial advisor. This should not be construed as financial advice. Each investor and crypto fan should be aware of possible corrections in price as demand and supply fluctuate, or as news affecting the market comes out.

Bitcoin Mining vs. Banking: How Much Power Does Bitcoin Mining Use?

Bitcoin is a cryptocurrency that has been around since January 2009. Over the years, its popularity has continued to grow, and more and more people are beginning to use it. But how much energy does bitcoin mining consume? Is Bitcoin mining really a danger to the environment?

In this blog post, we will compare bitcoin mining to traditional banking and see just how much power bitcoin mining really uses.

Bitcoin Mining and Electricity — The Evergreen Question

As you know, the Bitcoin network requires energy to function because it utilizes a Proof-of-Work (PoW) consensus mechanism. This means that in order for a transaction to be considered valid (included in a block), miners must compete against each other to solve math problem. The first miner to solve the problem is rewarded with newly minted bitcoins and transaction fees. This process of verifying transactions and adding them to the blockchain is called mining. It happens about every 10 minutes until another block is found and then repeats.

Over the past few years, lots of people have publicly raised concerns about the energy consumption of the Bitcoin network. Everything consumes energy, so it might help put things into context. What if we compared the energy consumption of Bitcoin with other industries such as the current existing traditional banking system.

Bitcoin Mining vs. Banking Energy Consumption

So how much energy does Bitcoin mining really use in comparison to the traditional banking system?

When you make a transaction at a bank, the bank verifies it and then records it in their ledger. This process uses a lot of energy, as it requires computers and other equipment to run.

On the other hand, Bitcoin mining only requires a computer and an internet connection. This means that it uses much less energy than traditional banking.

In fact, the latest studies show that banking consumes much more energy than the Bitcoin network.

According to a research report on the topic from Galaxy Digital, the energy consumed by the Bitcoin network is 113.89 terawatt-hours (TWh) per year, while the banking industry consumes 263.72 TWh per year. This means that despite popular beliefs, Bitcoin actually consumes less than half the energy of the baking industry. This is because older legacy systems are usually much more inefficient. An analogy would be washing the dishes by hand under the faucet instead of using a dishwasher. The dishwasher uses electricity and water, but much less water compared to running the faucet and much less energy. It’s more efficient overall.

It also turns out that Bitcoin mining uses less energy than the gold industry.

Another interesting finding is that gold consumes around 240.61 TWh per year, which is also a lot more than what Bitcoin consumes for the same period — in fact, that’s less than half. This doesn’t include the significant environmental damage caused by gold mining, especially illegal gold mining from drug cartels used to launder money.

This new data refutes claims of banks as a greener financial solution compared to the Bitcoin network. Of course, Blockchain technology still faces many challenges in optimizing processes and reducing the carbon footprint. That’s why it’s important that we all work towards building a new, alternative system for financial services that helps maintain our sustainable future. Many miners are working together to use a certain amount of sustainably sourced energy for Bitcoin mining. The Bitcoin Mining Council revealed that it successfully collected sustainable energy information from over 46% of the global Bitcoin network, as of December 31, 2021, in its latest voluntary sector survey. The results of this survey show that the members of the BMC and participants in the survey are currently utilizing electricity with a 66.1% sustainable power mix.

Why does the Bitcoin Network need energy?

As we’ve mentioned, Bitcoin mining is a process of verifying and adding transactions to the public ledger, called the Blockchain, by solving complex mathematical problems. Every time a miner solves a problem, they are rewarded with Bitcoin. To put it in perspective, each Bitcoin transaction consumes about 1,173-kilowatt-hours of electricity, according to a study, from MoneySuperMarket. In addition to that, the total energy usage of the Bitcoin network is less than 0.2% of all energy produced (source).

But why are those 1,173-kilowatt-hours of electricity needed?

Actually, their purpose is to maintain the network and help it be:

  • Decentralized
  • Robust
  • Secure
  • Live 24/7
  • Fast
  • Efficient
  • Transparent
  • With a fairer p2p rewarding system

A Greener Bitcoin Network: What can you do to reduce your carbon footprint?

As the world becomes increasingly digitized, the demand for energy-hungry crypto miners is only going to increase. That’s why today, Bitcoin miners are constantly finding ways to improve efficiency and reduce their energy consumption. For example, some miners have started using solar energy to power their operations — with Tesla being the latest example in the industry. Mining rigs powered by renewable energy sources like solar or wind power can greatly reduce the carbon footprint.

There are now several “green” mining pools that only use renewable energy to power their operations. By joining one of these pools, you can ensure that your mining is helping to support a more sustainable operation.

If you’re thinking about diversifying your portfolio, you can always look for new crypto to add to your HODL wallet. Just like there are green mining pools, there are also green exchanges that only list coins that have been mined in an environmentally friendly way. By using a green exchange, you can be sure that your trading is supporting sustainable practices.

You can also buy Bitcoin fastly and securely at any Bitcoin ATM location around the US and switch to a faster and more secure financial future.

Remember: One of the best ways to support green mining is to educate others about it. The more people who know about and understand the benefits of green mining, the more likely it is that more miners will switch to sustainable practices.

So there you have it! Bitcoin mining doesn’t use nearly as much energy as you might think. In fact, it’s actually more energy-efficient than traditional banking. So if you’re looking to save on energy costs, fintech might be a great option for you!