$1 Million or Extra in BTC now Held by Over 13,000 Cryptocurrency Addresses

There are at present greater than 13,000 Bitcoin addresses that at the moment are holding at the least $1 million value of BTC, in accordance to Glassnode knowledge.

You would need to personal round 108 BTC, at present costs, to turn into a US greenback millionaire (in Bitcoin). The variety of Bitcoin addresses with balances of greater than $1 million reached a report excessive through the historic crypto market bull run of 2017. In December of 2017, the BTC worth had surged to almost $20,000 and the market cap of all crypto-assets had surpassed the $800 billion mark by early January 2018.

It’s value noting that the digital forex market has not been capable of attain these historic highs, and even get near them, through the previous few years. Regardless of Bitcoin (and the bigger crypto market) costs not having the ability to break earlier highs, Glassnode knowledge confirms that the variety of addresses holding at the least 100 BTC have remained at about the identical ranges lately.

It’s attainable that many of those BTC addresses belong to giant cryptocurrency exchanges and digital asset custodians, who’ve persistently maintained giant quantities of Bitcoin (and different cryptos) of their reserves. Notably, there are greater than 1 million Bitcoins which have been most probably mined by Satoshi Nakamoto, the pseudonymous inventor of the flagship cryptocurrency. Satoshi’s cash haven’t moved through the previous 10 years.

Though it’s attainable to examine what number of BTC addresses maintain at the least $1 million value of the digital forex, it will possibly’t actually be decided simply what number of people are literally Bitcoin millionaires.

We must learn how many individuals or entities management the 13,290 BTC addresses with $1 million (or extra) in Bitcoins, so as to estimate out what number of Bitcoin millionaires there are. This might not be sensible as a result of many individuals don’t publicly disclose their wealth.

As reported lately, UK Millennials with £25,000+ in investable belongings are more and more investing in cryptocurrencies, based on a current survey.

World P2P Bitcoin (BTC) change LocalBitcoins has reported over $29 million in annual income for 2019. However P2P Bitcoin market Paxful lately overtook LocalBitcoins in BTC buying and selling quantity.

Final month, it was revealed that Grayscale Investments is shopping for 1,190 Bitcoins per day, and is on monitor to manage 10% of the BTC provide by the following Bitcoin halving in 2024.