Bitcoin: A Tool for Everyone or a Plaything for the Wealthy?

Published by
The Street

By Dan Weil A recent report shows that just 0.01% of bitcoin owners, or about 10,000 accounts, hold 27% of the 19 million bitcoins in circulation. Bitcoin advocates often speak of the digital currency as a democratizing asset, but a recent study published by the National Bureau of Economic Research indicates otherwise. The report shows that just 0.01% of bitcoin owners, or about 10,000 accounts, hold 27% of the 19 million coins in circulation. That would be about 5.1 million bitcoins, which recently were valued at $245 billion. Bitcoin About 90% Mined Out By contrast in the U.S. economy as a w…

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