The Bitcoin Hockey Stick
There are numerous reasons to be optimistic about the future of bitcoin. First among those reasons is the remarkably consistent increase in the number of entities owning bitcoin. While the price of bitcoin has been very volatile, the number of people holding bitcoin has shown a classic hockey-stick increase over time with low volatility. Glassnode Studios recently compiled data showing both the number of bitcoin addresses from which they were able to extrapolate the number of unique entities associated with those addresses. 23.1 million entities held some bitcoin at the end of January 2020. The 8-year graph is a thing…