Home Crypto News Bitcoin Millionaire Wallets Tripled in 2023

Bitcoin Millionaire Wallets Tripled in 2023

03 Jan, 2024 Crypto News

Bitcoin Millionaire Wallets Tripled in 2023

As it approaches its 16th year, Bitcoin might have created up to 100,000 millionaires in the United States.

According to data, since the beginning of 2023, the number of wallets holding Bitcoin valued at least $1 million has increased by almost 300%.

As Bitcoin turns 15 years old, it is currently the ninth most valuable asset globally. With a market capitalization of approximately $900 billion, Bitcoin was mined fifteen years after the genesis block.

For Bitcoin hodlers, the last year has been a renaissance, as the cryptocurrency rose 160% in US dollars after emerging from the depths of its longest-ever bear market.

The on-chain analytics company Glassnode reports that there are currently over 91,000 Bitcoin "millionaires." While not yet at all-time highs seen in November 2021, the total is still nearly four times higher than on January 3, 2023, when measured as unique addresses with a balance of at least $1 million.

“Let us not forget that #Bitcoin is the 9th most valuable asset in the world. In less than 15 years, it surpassed 7,963 other assets to accomplish this,” author Oliver Velez reflected on Bitcoin’s metamorphosis.

“By the end of 2025, I suspect it to be in the top three. We shall see.”

The figures bear obvious ramifications for current Bitcoin users and were not overlooked by major players in the sector.

Should more of the approximately 60,000,000 dollar millionaires in the world choose to increase their exposure, Bitcoin faces a supply squeeze due to its fixed, immutable supply of 21 million units, several million of which are thought to be irretrievably lost.

Henley & Partners, a consultancy firm specializing in investment migration, conducted a survey in September 2023 that suggests an additional 40,500 individuals may have million-dollar assets held in Bitcoin.

“We have seen a significant spike in enquiries from crypto millionaires over the past six months, who are all looking to build a viable ‘Plan B’ to protect themselves against any potential future bans on the trading or use of cryptocurrencies in their countries, and to allay the risks of aggressive fiscal policies that tax digital assets at source,” Henley & Partners CEO Juerg Steffen stated to private banking news service WealthBriefing at the time.

According to Henley, there seemed to be only six Bitcoin billionaires as of September.

Meanwhile, according to Glassnode, there are now more than a million "wholecoiners"—unique addresses with at least one Bitcoin—for the first time.

Sources:

https://cointelegraph.com/news/15-years-90k-bitcoinaires-bitcoin-millionaire-wallets-jump

https://studio.glassnode.com/metrics?a=BTC&m=addresses.Min1MUsdCount

https://twitter.com/olvelez007/status/1742214584847524196

https://twitter.com/TuurDemeester/status/1742257403578536158

https://www.henleyglobal.com/publications/crypto-wealth-report

https://www.wealthbriefingasia.com/article.php?id=199003

Back to Crypto News
Related articles
Bitcoin ETFs Record $680 Million All-time High

Crypto News

Bitcoin ETFs Record $680 Million All-time High

FTX Founder SBF Tells Prison Guards to Buy Solana

Crypto News

FTX Founder SBF Tells Prison Guards to Buy Solana

Crypto.com Unites with Largest Bank in South America

Crypto News

Crypto.com Unites with Largest Bank in South America

Saudi Arabia Launches Cultural Metaverse

Crypto News

Saudi Arabia Launches Cultural Metaverse

Don’t miss any crypto news

Subscribe to our Newsletters - the best way to stay informed about the crypto world. No spam. You can unsubscribe anytime.

By sharing your email, you consent to receiving BITmarket’s newsletter. Read how we process your data in our Privacy policy

You’ve made us very happy 😊

Subscribe to our Newsletters - the best way to stay informed about the crypto world. No spam. You can unsubscribe anytime.

Something went wrong 😔

If your problem persists please try contact our support