Inspired by a post from TylerDurden on Twitter, we (Bitcoin Is Data) custom-made a new visualization showing the evolution over time of the total BTC balance of the top addresses, i.e., the addresses that hold the most Bitcoin (the BTC Rich List). As far as we know, we are the only on-chain metrics provider that has computed these values.

The live charts can be found here: https://bitcoinisdata.com/top_balances/

We provide the total BTC balance for the top 50, 100, 200, 500, 1,000, 2,000, and 5,000 addresses, and the result is as follows:

If we superimpose the Bitcoin price and select just one group of top addresses — in this case, the top 500 — we can see that there is no clear interpretation of the impact of this new metric on the price movement.

We also created a visualization showing the year-over-year percentage change in the total balance held by the top addresses compared to the Bitcoin price, as shown below:

We also attempted to exclude addresses known to belong to exchanges, but the results weren’t very good. Exchanges are constantly creating new addresses, making it a game of cat and mouse to identify and track all of them. Therefore, we chose to include all top addresses in our charts, regardless of their origin.

We'd also like to remind you that all the raw data used to generate the charts on Bitcoin Is Data is available for direct download or via our API, in both .CSV and .XLSX (Microsoft Excel) formats.

By the way, if you have any suggestions for improvements, ideas for new data, or new charts, please leave a comment below, follow us on our Substack (bitcoinisdata.substack.com), contact us at contact@bitcoinisdata.com or via our Twitter (twitter.com/bitcoinistada) and NOSTR (bitcoinisdata@bitcoinisdata.com or npub18ukd26pjdy9eepcaz7usxwwf2r89tcnj7wmc4tthy3s6szep30gse3arvp) handles.