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“This year, wallets with [$1 million in BTC] have increased by 200%+!”
The number of crypto wallet addresses holding more than $1 million in Bitcoin has more than tripled this year.
BitInfoCharts data shows that the number of addresses worth more than $1 million in BTC has increased from 23,795 on January 1 to 81,925 today, a 237% increase in the past 11 months.
Currently, there are 81,925 wallet addresses holding over $1 million in BTC
Millionaire Wallet does not strictly belong to individual users, as many of the addresses holding over $1 million in BTC belong to exchanges and financial institutions.
Comparative data from Glassnode shows that the number of addresses holding more than $1 million worth of Bitcoin peaked during the peak of the last bull market in November 2021, on November 9, 2021 (one day before Bitcoin reached its all-time high ) recorded a record 112,573 addresses reaching a high of $69,000 on November 10, 2021.
The number of “millionaire” Bitcoin wallets increased by over 237% from the beginning of the year
Meanwhile, the number of “wholecoiners” (wallets with a balance of at least 1 BTC) has increased slightly since the beginning of the year. There are currently 1,018,015 such addresses, up 4% from 978,197 on January 1.
Since January 1 this year, the number of holders of all coins has increased by 4%
Despite widespread price declines due to a series of infamous crashes in the cryptocurrency industry, the period between April and December last year saw the largest increase in the number of wholecoiners since 2018, showing a strong accumulation trend.
Bitcoin is currently changing hands for nearly $37,000, up 38% from the last month. Prices were driven by enthusiasm for a variety of pending exchange-traded fund (ETF) products.
Bloomberg ETF analysts claim that a spot Bitcoin ETF has a 90% chance of being approved by January 10, with many expecting the price to rise sharply thereafter.
Source: James Seifert
Despite the bullish sentiment, not all analysts believe the approval of a spot Bitcoin ETF will spark the next bull run.
CMC Markets analyst Tina Teng said that while Bitcoin’s approval is positive for the crypto industry, both Bitcoin and the broader macro landscape lack the necessary fundamentals to justify a reversal of the overall trend.
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✏️Disclaimer: This article is for reference only, DYOR
Source: Alpha Investment Research Agency
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