• The total value of the top five dormant Bitcoin addresses is greater than Tajikistan’s GDP

  • A dormant Bitcoin (BTC) address is one that has not had any transactions in a long time. Surprisingly, the top five dormant Bitcoin address balances are worth more than some countries’ Gross Domestic Product (GDP) in US dollars.

    According to data, the top five dormant Bitcoin addresses with no transactions in the previous five years have a combined balance of $8.96 billion as of September 29, 2021. Surprisingly, it dwarfs Tajikistan’s total GDP of $8.19 billion. It’s also worth noting that the total amount of BTC held by the top 5 inactive addresses accounts for only 1.1 percent of total BTC.

    Furthermore, the top five inactive addresses have more value in Bitcoin than the GDPs of Kyrgyzstan in Central Asia, Mauritania in East Africa, and Kosovo in Southeastern Europe.

    The GDP figures are based on World Bank national accounts data, while Bitinfocharts provides dormant BTC address holdings.

    If a password is forgotten, money can be lost.

    Given that no one but you has access to your crypto wallet, it is possible that people will forget or lose their pass and, as a result, lose everything. As a result, the top five dormant BTC addresses’ holdings may be among the coins that can never be recovered. Nonetheless, when properly stored, cryptocurrencies, like metal and paper wallets or cold storage devices, provide a secure and nearly unhackable storage option.

    Despite the risks, the number of people who hold Bitcoin for longer periods of time is increasing. According to data published by on-chain analytics platform Glassnode, long-term Bitcoin investors have reached an all-time high, controlling more than 80.5 percent of the cryptocurrency circulating supply.

    During the last bull market of 2020/21, long-term investors purchased approximately 12.3 percent of the circulating Bitcoin supply. As a result, recent data show that Bitcoin owners are still hesitant to sell their crypto holdings.

    Meanwhile, there has recently been a surge in global interest in Central Bank Digital Currency (CBDC), with countries such as China, India, Nigeria, and others considering CBDC trials.

    Tajikistan intends to launch a central bank digital currency.

    Tajikistan is reportedly planning to launch its own digital currency in response to the growing interest in CBDC from international governments, according to the Fantom Foundation, which plans to develop a CBDC for Tajikistan on its Fantom (FTM) blockchain.

    The Fantom Foundation will develop a potential CBDC product with the assistance of OJSC Orienbank, one of Tajikistan’s oldest banks, which will be evaluated by the country’s central bank.

    According to the terms of the agreement, Fantom will be one of the first blockchain projects to start building a CBDC platform for potential use by a national government, the Fantom Foundation announced on Monday.

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