Bitcoin Addresses Containing 1 BTC Or More Have Reached A Million

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The total number of wallet addresses of Bitcoin that have been holding more than a single BTC or more has already surpassed the one million mark. The one million whole-coiner milestones were touched on 13th May, according to a data retriever from Glassnode. While the price of the cryptocurrency was on a free fall by more than 65% over the previous year, the total number of wallet addresses that have held one Bitcoin or more did spike, with the most notable surge taking place during an acute market crash in June.

From 11th November, FTX collapsed, and then subsequently filed for bankruptcy. Overall, a humongous 190,000 whole-coiners were added from February 2022 as the BTC price fell from its highs in November 2021. 

Bitcoin Wallet Addresses Have Crossed 1 Million

The co-founder of Glassnode, Negentropic, informed his 54,000 followers on Twitter that the best time to purchase Bitcoin was when there was blood in the streets. His comments come after numerous banks all over the United States collapsed, as well as the Feds looking to potentially pause in the hikes of the interest rate in the next few months.

Although the round number one million does mark a new record in the books, it should be pointed out that one wallet address of the cryptocurrency doesn’t always represent a single individual. Many investors of crypto have quite a few BTC addresses, and some other addresses belong to several major institutions like investment firms and cryptocurrency exchanges.

According to the data that was provided by CoinGlass, the provider of crypto analytics, of the roughly 19 million Bitcoin that are currently circulating all over the world, around 1.89 million of these have been held on several different centralized exchanges such as Coinbase and Binance.