Growing Bitcoin Wealth: 1+ BTC Held by Nearly a Million Addresses
The cryptocurrency industry is booming, and Bitcoin (BTC) has seen an impressive 70% increase in price since the beginning of the year. As Bitcoin continues to rise, the number of wallets holding at least one Bitcoin has reached a new all-time high, with nearly one million holders according to data from cryptocurrency tracking platform LookIntoBitcoin.
Not only that, but the total number of Bitcoin holders has been rising at the fastest rate since early 2021, according to crypto analytics platform Santiment. The total number of addresses holding any amount of Bitcoin has reached 46.16 million in recent days. This pattern is similar to the one occurring from January 2021 through April 2021, even though the price is currently over 55% lower than at that time.
The rising rate of people ‘hodling’ the maiden digital asset in their wallets could be due to crypto traders becoming increasingly content in keeping their bags unmoved for the long term, according to the platform’s team.
In terms of Bitcoin’s price, it’s currently changing hands at $28,319, recording a 1.44% increase over the previous 24 hours and a 0.29% gain during the last week. The coin has had a cumulative growth of 40.23% on the monthly chart and 70% year-to-date.
Interestingly, Bitcoin adoption could receive a boost from the Democrat presidential bid of the environmental lawyer Robert F. Kennedy Jr., who previously warned about the potential dangers of central bank digital currencies (CBDCs). In the first quarter of 2023, Bitcoin outperformed the top five major indexes, which bodes well for the future of the cryptocurrency.
Clever Robot News Desk 11st April 2023