An "address" can mean anything - a person can have a wallet with multiple addresses, or an address could belong to an exchange with holds it on behalf of multiple people.
Most BTC is held by an exchange, like Coinbase, Binance, etc... so this statistic is about as meaningful as pointing out that 95% of US dollars are stored at a bank.
A lot of BTC was held by an exchange like Mt. Gox and Bitfinex, too.
With banks I can trust that I can actually get my money bank. BTC isn't decentralised, and the central actors controlling the system are far less reputable (which is saying a lot, when they're being compared to bankers).
So that metric is really bad because almost every Bitcoin wallet only uses each address once, for privacy reasons. Most of those bottom 98% of addresses probably have very small amounts and are just a small part of someones wallet.
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