Recent data released by crypto analytics provider CoinGlass revealed an astonishing milestone: more than 1 million Bitcoin wallet addresses now contain 1 BTC or more. This marks a major achievement as many crypto investors have multiple BTC addresses. As the price of Bitcoin has fallen from its November 2021 highs, the number of addresses holding one BTC or higher has spiked. The largest surge occurred after the acute market crash in June, and from the filing date of FTX bankruptcy in November.

The data from CoinGlass also reveals that of the approximately 19 million Bitcoin currently in circulation, 1.89 million of these Bitcoins are held on major central exchanges such as Binance and Coinbase. Additionally, a staggering 3 million BTC, or 17% of the total supply, is believed to be “lost forever” due to its associated wallet keys being lost, never recovered, or sent to a “burn address.”

Regardless of any potential complications involving market crashes, banking collapses, and potential interest rate pauses, Glassnode remains confident in Bitcoin’s mid-term prospects and price performance. Moreover, the impressive growth of Bitcoin wallet addresses holding 1 whole BTC or more justifies the optimism surrounding Bitcoin.

Ultimately, the release of this data is a strong indicator of the potential of Bitcoin as an investment asset, as millions of individuals and institutions remain invested in the digital currency. Following the initial market downturn due to Covid-19, the number of Bitcoin wallet addresses holding 1 BTC or more has rapidly grown and shows no signs of slowing down, making this a record that is certainly worth keeping an eye on.



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