2023 Witnesses a Triple Surge in Bitcoin Millionaire Wallets

In 2023, there were an astounding three times as many Bitcoin wallets with a combined value of more than one million dollars. This is a phenomenal development.

The number of Bitcoin billionaires has increased significantly, according to BitInfoCharts, rising from 23,795 in January 2023 to an astounding 81,925 at the time of publishing. The noteworthy 237% surge in value is ascribed to the favorable dynamics present in the cryptocurrency market and Bitcoin’s persistent ascent to annual highs.

It’s important to remember that millionaire wallets are frequently associated with cryptocurrency exchanges and financial entities that own Bitcoin worth more than $1 million. They are not always linked to specific people.

Bitcoin Millionaire Addresses Revisited

According to statistics from Glassnode, the latest bull market in November 2021 saw a peak in the number of addresses holding Bitcoin valued at more than $1 million. On November 9, 2021, right before Bitcoin reached its all-time high of $69,000, a record-breaking 112,573 such addresses were registered during this timeframe.

The quantity of “wholecoiners” (wallets with a minimum balance of 1 BTC) has increased somewhat since the start of the year, despite the fact that millionaire wallets are frequently the center of attention. There are 1,018,015 of these addresses at the moment, which is 4% more than the 978,197 that were registered on January 1.

On November 9, 2023, Bitcoin surpassed $37,000 to reach a new year high. The US Securities and Exchange Commission announced that it was in talks with Grayscale to create spot Bitcoin ETF around the same time as this spike. The price of Bitcoin continued to rise in October 2023, ending the month with a 28.5% gain, demonstrating the cryptocurrency’s tenacity and importance in the world of finance.