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Bitcoin millionaire wallets triple in number in 2023

Bitcoin millionaire wallets triple in number in 2023

– The number of crypto wallet addresses holding more than $1 million in Bitcoin has tripled this year, reaching 81,925 currently.

– Many of these millionaire wallets belong to crypto exchanges and financial institutions, rather than individual users.

– The peak number of addresses holding more than $1 million in Bitcoin was recorded in November 2021, during the last bull market.

– The number of “wholecoiners,” or wallets with a balance of at least 1 BTC, has slightly increased since the beginning of the year.

– Bitcoin’s price has been rising, currently at nearly $37,100, supported by market enthusiasm for pending spot exchange-traded fund (ETF) products.

– While some analysts believe a spot Bitcoin ETF approval will trigger the next bull run, others argue that the necessary fundamentals are lacking for a significant trend reversal.

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