1,500 Bitcoin Millionaires Per Day After All-Time Highs #BTC #HalvingWithBinance

Bitcoin’s (BTC) current rally generates around 1,500 new “millionaire wallets” daily. This revelation comes from Kaiko Research, signaling a significant shift in wealth within the cryptocurrency ecosystem.

These millionaire wallets are digital addresses on the Bitcoin blockchain, storing vast amounts of crypto. While the blockchain’s transparency allows for public viewing of token quantities, owner identities remain concealed. This anonymity shrouds whether individuals or entities control the wallets.

The rise of BTC, with over 70% increase this year, rides on the excitement over US-based spot Bitcoin exchange-traded funds (ETFs). These ETFs began incorporating cryptocurrency in January.

Despite this surge, the pace of creation of millionaire wallets is slower than in 2021’s bull market. Back then, over 4,000 wallets daily were reaching millionaire status. The peak this year was on March 1, with 1,691 wallets.

Several factors contribute to this tempered growth. Kaiko’s analysis suggests a gradual inflow of fresh capital. Meanwhile, large investors, or “whales,” are seizing the opportunity to profit from the high prices. Furthermore, many choose custodial services over personal wallets for their holdings.

Meanwhile, MicroStrategy added 12,000 BTC to its holdings, an investment of $821.7 million. This purchase brings the firm’s total to 205,000 BTC, valued at over $14.84 billion. Additionally, crypto trader MartyParty noted decreased Bitcoin reserves on central exchanges. Binance’s balance is down to 546,589.20 BTC, whereas Coinbase Pro has 358,787.15 BTC left. #HotTrends #ETH #CryptoNews🔒📰🚫