Bitcoin’s revival in 2023 has created wealth for many crypto investors as the number of crypto investors has increased significantly Bitcoin Millionaires. These Bitcoin millionaires are wallet addresses whose BTC holdings equal $1 million or more.
Number of Bitcoin Millionaires
According to facts from BitInfoCharts there are currently 97,497 Bitcoin millionaires. This represents a significant increase from the beginning of the year, when the number of wallet addresses equal to $1 million and above stood at 23,795, according to facts from Glasnode.
This development is attributed to the revival of Bitcoin’s price this year, with the crypto token posting gains of over 158% this year. At the beginning of the year, Bitcoin’s price was just over $16,000. But when the price of the flagship cryptocurrency started to rise, so it did did his number of millionaires.
Further facts from BitInfoCharts divides these Bitcoin millionaires into two categories. The number of addresses greater than $1 million is 90,040, while 7,457 wallet addresses contain $10 million or more.
Meanwhile, other addresses under $1 million have also seen huge gains. Market intelligence platform Santiment recently reported that 89% of the total Bitcoin supply consists of profits. 2024 could be a better year for these addresses, as the Bull market is expected to start next year.
In the meantime, some of these Bitcoin millionaires and individuals with significant assets appear to be making a profit. NewsBTC recently reported how Bitcoin whales had sold about 50,000 BTC, which amounts to about $2.2 billion.
BTC price retraces to $42,600 | Source: BTCUSD on Tradingview.com
Still about two weeks to go for spot ETFs
One of the biggest moments for Bitcoin and the crypto industry could happen as soon as January 10th. This is around the period when experts predict that the Securities and Exchange Commission (SEC) will approve the pending Spot Bitcoin ETFs, and optimism is in the air as many actions point to an approval.
Crypto stakeholders have their eyes glued to the developments surrounding these Spot Bitcoin ETFs. The reason is not far-fetched, as these funds could release new liquidity in the Bitcoin ecosystem. Trading company QCP Capital had emphasized this as the catalyst for Bitcoin hitting its all-time high (ATH) and possibly new ATHs.
At the same time, people like the former CEO of crypto exchange BitMEX, Arthur Hayes, will be hoping that these ETFs won’t achieve much success. he says they could lead to Bitcoin’s demise.
At the time of writing, Bitcoin is trading around $42,678.76, down more than 1% in the past 24 hours according to facts from CoinMarketCap.
Featured image from Crypto News, chart from Tradingview.com
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