In this piece, we examine the question of “What is Bitcoin for?” We conclude that neither low-cost payments, censorship resistance, nor digital payments are particularly compelling on their own. However, combining censorship-resistant money with the ability to use money electronically results in an interesting set of characteristics.

More than half of the entire Bitcoin circulating supply is controlled by cryptocurrency whales, and 42 percent of them didn’t sell during peak crypto-mania. Blockchain research unit Diar has put together some interesting data that suggests less than 1 percent of all wallet addresses control $100 billion in Bitcoin.