Bitcoin distribution | Source: BitInfoCharts
However, while the growth in millionaire wallets is eye-catching, it’s important to note these addresses are not necessarily owned by individual investors, as many of them belong to exchanges, financial institutions and funds that hold large amounts of bitcoin.
According to Glassnode, the previous record for most millionaire BTC addresses was set in November 2021 at the height of the last crypto bull market. On November 9, 2021, there were 112,573 wallets holding over $1 million in bitcoin, just before BTC hit its all-time high of $69,000.
Furthermore, the number of “wholecoiner” wallets (holding at least 1 BTC) has also grown slightly in 2023, which is up 4% since the beginning of the year to 1,018,015 as of mid-November.
On November 9th, Bitcoin recently hit a new 2023 high, crossing above $37,000. This price jump triggered $151 million in liquidations on futures contracts. The price spike followed news that the SEC has entered talks with Grayscale regarding a spot bitcoin ETF in the US.
With October seeing a 28.5% BTC price gain, the positive momentum has carried into November for the leading cryptocurrency.
- MDT PREDICTION. MDT cryptocurrency
- KUNCI PREDICTION. KUNCI cryptocurrency
- Ethereum price prediction: is the bullish trend sustainable?
- Bitcoin holder claims hacker stole 139 BTC, paid record $3m in fees
- Bitcoin ETF desire narrows Grayscale GBTC discount to 8%
- ICE PREDICTION. ICE cryptocurrency
- Kaspa price jumps 15% following Binance listing
- Bittrex Global ceases trading amid operations wind down
- USD COP PREDICTION
- QUACK PREDICTION. QUACK cryptocurrency