Number Of Bitcoin Holders With More Than 1 BTC Hits A New High

The number Of Bitcoin HODLers Hits A New High As Addresses With More Than 1 BTC Increase.

While the crypto market hasn’t been a rosy field of late, Bitcoin fans and investors are still unfazed. Apparently, a good number of Bitcoin holders have managed to stay through with their stash for a whole year.

Data released by IntoTheBlock show that Bitcoin’s growth has continued through the upheavals in the market. The recent undesirable price action hasn’t fettered investor confidence in the top coin.

Regardless of the recent price action, $BTC hodlers have remained unfazed, as the linear growth continues.

The number of holders (address holding >1year), is currently at an all-time high.

There are now 27.65m addresses holding 12.66m $BTC for more than 1 year. pic.twitter.com/y0XktMy7Ii

— IntoTheBlock (@intotheblock) May 23, 2022

HODLers At ATH

According to the released information, the number of BTC hodlers who have kept their stash intact for a year has increased and is now at its highest ever. There are around 27.65M Bitcoin addresses containing around 12.66 million coins held for a year or more.

From an optimistic standpoint, this revelation points to an increase in market resilience on the part of Bitcoin. BTC has battled negative sentiments over the years, even when governments and traditional financial institutions were against it.

Some governments are now warming up to the crypto idea while institutional funds are following into the BTC market.

This same kind of resilience seems to be keeping the Bitcoin market strong and unshaken amid an extensive price crash that has affected the entire crypto market.

More Wallets With More Than 1 BTC

As if to entrench the point mentioned above, the BTC community seems to be increasing the wallet size.

In the recent past, most of the wallets contained fractions of a Bitcoin. Now, as has been reported, there are close to a million wallets holding a whole Bitcoin each. They’re precisely 844,906 Bitcoin wallets. This may be an indication of an increase in holding appetite by Bitcoin investors.

Image Source: Twitter

Holding has been a major point popularized by various investors as the ultimate use of Bitcoin as a store of value.

Granted, inflation has had a bad effect on the global economy and governments have made it worse by printing vast amounts of fiat currencies.

Bitcoin has been hailed as the answer to these negative effects to preserve wealth. As such, the holding culture may be driven by this point of view. At the moment, Bitcoin is still at the top and trading at around $30.4k, with a total market cap of $578 billion.

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