Bitcoin Wealth Centralization Is A Myth, Says VanEck Strategist

Bitcoin does not have a wealth distribution problem after all, another expert has said as the debate continues to mushroom within the industry.

BTC Ownership ‘Seems Balanced’

In a tweet August 15, Gabor Gurbacs, digital asset strategist and director at investment management giant VanEck, took claims the Bitcoin supply was centralized to task. 

Comments had previously appeared from sources such as Civic CEO Vinny Lingham, who raised concern at the idea that 80% of available bitcoins resided in just 2% of wallets.

As Bitcoinist reported, others argued the metric held little meaning, as a huge number of wallet addresses contained next to no funds at all and were all but disused. 

Nevertheless, a to-and-fro ensued, with technical sources ultimately pointing to evidence the overall supply is becoming more and more decentralized with time. 

Gurbacs agrees. “Ownership seems balanced,” he summarized, noting that the addresses holding the biggest amounts of BTC are “often…