Number of Bitcoin Millionaires Has Fallen 76% in Just Eight Months
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Number of Bitcoin Millionaires Has Fallen 76% in Just Eight Months

Created 3mo ago, last updated 3mo ago

There's also been a rather substantial fall in the number of addresses that currently hold more than $10 million worth of Bitcoin.

Number of Bitcoin Millionaires Has Fallen 76% in Just Eight Months

The number of Bitcoin millionaires has fallen dramatically over the past eight months.

According to BitInfoCharts.com, 108,866 addresses had a balance worth more than $1 million back on Nov. 12, 2021 — two days after BTC hit a record high of $68,789.63.

But with BTC now languishing at $19,212, the picture looks very different.

Right now, just 25,601 addresses can count themselves as Bitcoin millionaires — a fall of 76.4%.

There's also been a rather substantial fall in the number of addresses that currently hold more than $10 million worth of Bitcoin.

This figure stood at 10,587 last November, but fast forward to now, and it's plunged by 60% to 4,276.

All of this data likely tells us two things.

First, those "HODLing through adversity" have seen the cash value of their Bitcoin dwindle substantially during this bear market. Second, it's very possible that some disgruntled investors — who may have only started investing last year and were yet to experience a crypto winter — have decided to offload all of their BTC altogether.

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