Number of Bitcoin millionaire wallets triples in 2023

The number of crypto wallet addresses holding more than $1 million in Bitcoin (BTC) has more than tripled this year. 

BitInfoCharts data shows the number of addresses with more than $1 million in BTC increased from 23,795 on Jan. 1 to 81,925 currently, a 237% increase in the last 11 months.

How To Get Free Crypto  

Currently, 81,925 wallet addresses hold more than $1 million in BTC. Source: BitInfoCharts

The millionaire wallets are not one-to-one with individual users as many addresses with more than $1 million BTC belong to crypto exchanges and financial institutions.

Comparative data from Glassnode shows the number of addresses holding more than $1 million in Bitcoin peaked during the top of the last bull market in November 2021, posting a record 112,573 addresses on Nov. 9, 2021, the day before Bitcoin notched its all-time high of $69,000 on Nov. 10, 2021.

The number of “millionaire” Bitcoin wallets has grown more than 237% from the beginning of the year. Source: Glassnode

Related: Demand for Bitcoin could 10X within the next 12 months: Michael Saylor

Meanwhile, the number of so-called “wholecoiners” — wallets with a balance of at least 1 BTC — has increased slightly since the beginning of the year. Currently, there are 1,018,015 such addresses, a 4% increase from 978,197 on Jan. 1.

The number of wholecoiners increased by 4% from Jan. 1 this year. Source: Glassnode

The largest increase in wholecoiners since 2018 occurred between April and December last year showing a strong accumulation trend despite a broader price decline resulting from a slew of high-profile crypto industry meltdowns.

Coinbase Banner  

Bitcoin is currently changing hands for nearly $37,100, up 38% over the last month. Bitcoin’s price has been buoyed by market enthusiasm for multiple pending spot exchange-traded fund (ETF) products.

Bloomberg ETF analysts claim there’s a 90% chance a spot Bitcoin ETF will be approved by Jan. 10, with many expecting a significant price rally to follow.

Despite the market’s bullish sentiment, not all analysts are convinced that a spot Bitcoin ETF approval will launch the next bull run.

CMC Markets analyst Tina Teng claimed while an approval would be a positive for the crypto industry, both Bitcoin and the wider macro landscape lack the required fundamentals to justify an all-out trend reversal.

FreeBitcoin Banner  

Magazine: Exclusive — 2 years after John McAfee’s death, widow Janice is broke and needs answers

Go to Source
Author: Tom Mitchelhill

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

You May Also Like

More From Author

This site uses Akismet to reduce spam. Learn how your comment data is processed.