Bitcoin ETF

Bitcoin

April

Spot

James

<div class="sg-post-des">
 Over 81,000 wallet addresses now hold $1 million or more worth of Bitcoin.
</div>
<div class="cointelegraph">
 The number of crypto <a rel="noopener noreferrer nofollow" title="wallet" href="https://thebittimes.com/tag/wallet.html">wallet</a> addresses holding more than $1 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> in Bitcoin (BTC) has more than tripled this year.&nbsp;
 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.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/13/8f03238f9492006aed6b351f0a31f453.webp">
 <figcaption style="text-align: center;">Currently, 81,925 wallet addresses hold more than $1 million in BTC. Source: BitInfoCharts
 </figcaption>
 </figure>
 The <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>aire <a rel="noopener noreferrer nofollow" title="wallet" href="https://thebittimes.com/tag/wallet.html">wallet</a>s are not one-to-one with individual users as many addresses with more than $1 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> BTC belong to crypto exchanges and financial institutions.
 Comparative data from Glassnode shows the number of addresses holding more than $1 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> 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.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/13/e8f8bf001b7a83dd1ea77bf1be8bddbb.webp">
 <figcaption style="text-align: center;">The number of “millionaire” Bitcoin wallets has grown more than 237% from the beginning of the year. Source: Glassnode
 </figcaption>
 </figure>
 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.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/13/7b3a8fccf59f0553357475f1b1aef525.webp">
 <figcaption style="text-align: center;">The number of wholecoiners increased by 4% from Jan. 1 this year. Source: Glassnode
 </figcaption>
 </figure>
 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.
 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.
 <blockquote class="twitter-tweet">
 I've gotten a lot of questions regarding my current view on Spot #Bitcoin ETFs over the last couple weeks. This is the first section of the note I put out yesterday with @EricBalchunas. TLDR: Our view hasn't changed much https://t.co/dRAm5IsdQf pic.twitter.com/Htsi3n2XxV— James Seyffart (@JSeyff) October 13, 2023
 </blockquote>
 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.
 Magazine: Exclusive — 2 years after John McAfee’s death, widow Janice is broke and needs answers
 <template data-name="subscription_form" data-type="crypto_biz"></template>
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/number-of-bitcoin-millionaire-wallets-triples-in-2023-tbt70016.html">https://thebittimes.com/number-of-bitcoin-millionaire-wallets-triples-in-2023-tbt70016.html</a>

Number of Bitcoin millionaire wallets triples in 2023

TheBitTimes

Other articles published on Nov 13, 2023

Cardano holders in red, more investors exploring Meme Moguls

Solana dominates crypto conversations with 42% price jump

Top Analyst Projects Bitcoin’s Supersonic Rally to $60K, Here is How?

Spot Bitcoin ETF Approval Possible, SEC Could Publish Orders Soon

Fake Skype App Threatens Crypto Funds, Linked to Binance Scam!

Wall Street Journal Report: Hamas Uses Cryptos for its Operations

Join our free newsletter for daily crypto updates!