The number of Bitcoin wallets holding at least one Bitcoin has exceeded one million, according to recent data from Glassnode. This milestone, referred to as the "Wholecoiner milestone," represents a significant moment in cryptocurrency history. However, it’s worth noting that this figure reflects wallet addresses, not individual owners, as some entities may control multiple wallets.
This development has several key implications:
1. Increasing Scarcity: With approximately 19.5 million Bitcoins in circulation and an estimated 3 million lost forever, owning one Bitcoin becomes increasingly challenging, enhancing its value as a scarce digital asset.
2. Barriers for New Investors: Rising prices make it harder for newcomers to accumulate a full Bitcoin, shifting the focus to fractional investments.
3. Market Dynamics: The rise in "wholecoiners" suggests a trend toward long-term holding (HODLing), reducing the liquid supply available for trading.
It’s important to clarify that this milestone does not guarantee that current holders will never sell. However, it reflects growing confidence in Bitcoin as a store of value, with many investors treating it as a hedge against inflation and economic uncertainty.
Sources:
1. CoinTelegraph
2. Finbold
3. Glassnode
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