What seems like a small piece of news is actually very exciting for Bitcoin, the number of holders of the cryptocurrency has surpassed one million.
This is news that gives hope to the industry, which makes it clear that despite the long bear market period, now is the time to restart precisely from investors.
Bitcoin reaches one million holders for the first time: good news for BTC
Bitcoin, the world’s largest and most expensive cryptocurrency, experienced a remarkable recovery in 2023.
Driven by renewed institutional interest, Bitcoin reached a new 12-month high in June, with its price surpassing $31,300.
Although it suffered some corrections toward the end of the month, it still achieved an impressive 85% growth in the first half of the year, becoming the third best performing cryptocurrency in that period.
Parallel to this surge in value, the number of investors in BTC has been steadily increasing.
The data presented reveal a significant milestone in cryptocurrency adoption. The number of unique addresses holding more than one BTC exceeded one million for the first time. This major achievement highlights the growing interest and confidence of both retail and institutional investors in the potential of Bitcoin.
Glassnode, a cryptocurrency analytics platform, provides information on the growing interest in Bitcoin as an investment option. As of July last year, there were about 3.67 million unique addresses holding roughly 0.1 BTC.
Since then, this number has increased by 20% to an all-time high of 4.41 million. In addition, the number of wallets with at least 1 BTC, valued at about $30,300 in the last week, reached a record high, with a 15% year-on-year increase of 133,000 investors, bringing the total to 1.09 million as of 15 July.
Beyond the one BTC threshold, Glassnode data show that 156,600 investors hold more than 10 BTC in their wallets, up 5% from the same month a year earlier.
In addition, the number of cryptocurrency investors who hold the staggering 10,000 BTC in their wallets increased by 14% from the previous year, totaling 111 individuals. However, unique addresses owning 1,000 BTC declined, dropping 8% year-on-year to 2,015 in July.
It is not only Bitcoin investors that are increasing, but also active addresses
In addition to the increase in the number of investors, the data also reflect an increase in active Bitcoin addresses.
Since July 2022, the number of active addresses, which send or receive BTC on a given day, has increased by 15%, totaling 2.18 million new addresses. Last month, the network had 17.6 million active addresses, indicating increasing activity within the Bitcoin ecosystem.
The total number of non-zero Bitcoin addresses reached an all-time high despite regulatory pressures in the United States.
In July of the previous year, there were 42.2 million addresses with non-zero balances. Now this number has surpassed 47.3 million, an impressive increase of 5.1 million addresses over the previous year.
These statistics underscore the continued interest in and adoption of Bitcoin as a viable investment option, both by individual investors and institutions.
The growing number of investors holding significant amounts of BTC reflects the growing confidence in the cryptocurrency’s long-term appreciation potential.
Although the path to mainstream acceptance and regulatory clarity has not been without challenges, Bitcoin’s resilience and strong performance in 2023 indicate that it continues to captivate the financial world.
As the crypto space evolves, the number of investors in Bitcoin will continue to grow, and the role of cryptocurrency in the global economy will undoubtedly be the subject of much interest and discussion in the years to come.
Source: https://en.cryptonomist.ch/2023/07/19/bitcoin-news-one-million-holders/