Less Than 1% of Bitcoin Holders Control 27% of All Circulating Coins 🪙

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Less Than 1% of Bitcoin Holders Control 27% of All Circulating Coins 🪙 

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According to a new study conducted by the National Bureau of Economic Research, a minute group of investors controls the major supply of Bitcoin in circulation. The study found that 0.01% of the bitcoin holders control 27% of the supply.

The research study said that 10,000 bitcoin accounts hold 5 million out of the 19 million coins in circulation, which equates to about $232 billion. 

An estimated 114 million accounts hold bitcoin globally, which equals more concentrated wealth than the 1% of the richest Americans who currently control about one-third of U.S. dollars, an amount that many suggest as an indicator of massive inequality.

In addition, the study also found what bitcoin is spent on. The report reveals that 90% of bitcoin transactions are not a result of a user purchasing something with the currency, but instead transactions between a single user’s own crypto accounts.

Of the remaining 10% of transactions, 3% of them are linked to scams, illegal transactions, or gambling. 

The majority of the 10% is related to transactions between different types of trading desks and exchanges representing institutional investors, the report added.

Oracle to Buy Cerner For Over $28 Billion 💰

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On December 20, Oracle and Cerner Corporation jointly announced an agreement that Oracle will acquire Cerner through an all-cash tender offer for $95 per share or approximately $28.3 billion in value.

Cerner is the leading U.S. provider of healthcare information technology solutions offering its clients a dedicated focus on health care, an end-to-end solution and service portfolio, and proven market leadership.

The deal is expected to complete in 2022, subject to receiving certain regulatory approvals and satisfying other closing conditions, including Cerner stockholders tendering a majority of Cerner’s outstanding shares in the tender offer.

“With this acquisition, Oracle’s corporate mission expands to assume the responsibility to provide our overworked medical professionals with a new generation of easier-to-use digital tools that enable access to information via a hands-free voice interface to secure cloud applications,” said Larry Ellison, Chairman and Chief Technology Officer, Oracle.

“This new generation of medical information systems promises to lower the administrative workload burdening our medical professionals, improve patient privacy and outcomes, and lower overall healthcare costs,” he added.

E-Scooter 🛴 Sharing Startup VOI Raises $115 Million 

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VOI Technology, an e-scooter company based in Sweden, has raised $115 million in an oversubscribed funding round valuing the company at just over $1 billion.

The Series D funding was led by Raine Group and VNV Global and saw participation from other investors including Inbox Capital, Nordic Ninja, Stena Sessan, Kreos Capital. 

The funding also saw new investors Ilmarinen, Nineyards Equity, and ICT Capital, among others. In addition, entrepreneurs and operators from King, Avito, BCG, and more also participated in the round.

Founded in 2018 by Fredrik Hjelm, Douglas Stark, Adam Jafer, and Filip Lindvall, VOI is a micro-mobility startup that provides electric scooters for last-mile transportation. 

The company has achieved a 140% year-on-year revenue growth in 2021 while increasing margins and profitability.

The fresh funds will help the company to expand into new European markets and add more e-bikes to its fleet. 

The company also plans to launch a new e-scooter model “Voiager 5”, which it claims will be the safest e-scooter model to date. 

Debut NFT Collection Takes Adidas Originals 👟 to Second Place 🥈 on OpenSea Rankings

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The first NFT collection from Adidas Originals’ “Into the Metaverse” project has generated 11,391 Ether, worth over $43 million on OpenSea, a peer-to-peer marketplace for NFTs, rare digital items, and crypto collectibles.

When ranked by trading volume, this NFT collection has reached the second spot on OpenSea after RTFKT’s Clone X and Takashi Murakami collection.

Adidas, in partnership with Punks Comics, Bored Ape Yacht Club, and GMoney (a pseudonymous crypto enthusiast) had put up about 30,000 NFTs for sale, of which 20,000 copies of the Phase 1 NFT have been sold so far.

Adidas said that they made $15.5 million during the Early Access mint that had to pause and restart after several hours due to technical snags with Mutant Ape Yacht Club not being able to mint.

Owners of the NFT will get access to special physical goods like a hoodie and a tracksuit worn by the Bored Ape that Adidas owns, among other upcoming digital experiences. 

The buyers could also get a physical version of the PUNKS Comic Issue 2: X Marks the Drop, a graphic story about all the characters in the collection.

Around the Web 🌐

Meta Files Lawsuit Against Phishing Scams on Its Platforms: Meta (formerly Facebook) has filed a federal lawsuit in California court to take action against individuals and groups running phishing scams on its platforms. The social media giant says the lawsuit aims to disrupt phishing attacks that are designed to trick people into sharing their login credentials on fake login pages for Facebook, Messenger, and Instagram.


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