A few days ago, the Finbold platform published data that indicates that since February 10, 2022, the number of bitcoin (BTC) wallet addresses with a balance greater than $1 million has increased to 96,399. information was later confirmed by BitInfoCharts.com.
BTC millionaires dwindling in number
According to Feingold and BitInfoCharts.com, the number of addresses with more than $1 million in bitcoins increased by 1,368 in the past 30 days. This corresponds to a growth of 95,031 addresses compared to the number of wallets recorded on January 10, 2022. Even if this growth may seem remarkable, it remains however insignificant compared to the statistics of October 28.
On October 28, 2021, there were 116,139 wallets containing bitcoin (BTC) that had been declared millionaires. At the time, 105,820 had a balance of at least $1 million and 10,319 had a balance of no less than $10 million. We can therefore deduce that between these statistics and recent data, the number of BTC millionaires has slightly decreased.
In fact, with regard to statistics, we can remember that the number of millionaires in BTC fell by 28,186 between the two dates. This corresponds to a decrease of 24.24%. In any case, since the wallets are anonymous, it is impossible to know precisely the identity of the millionaires in BTC.
The bullish momentum will continue
According to specialists in the financial world, particularly in the field of cryptocurrencies, there is a chance that we will soon see an uptrend for BTC. They believe that the decrease in the number of millionaires will not have a real impact on the price of the cryptocurrency.
Currently, BTC is in a “short squeeze” phase, Glassnode claimed. As a result, the bullish trend the market is showing will continue for a long time. This is because when the move that Glassnode describes occurs, short-sellers get “trapped” in their positions and therefore have to rush out of the market (liquidate their positions) to protect their assets.
As of the date of writing this article, the market capitalization of BTC is the highest. It is $822.521 billion, with a market dominance of 41.9%, according to CoinMarketCap. For now, there is no indication of a possible decline in the value of the king of cryptocurrencies, not even it's market capitalization.
Bitcoin (BTC) is a unique cryptocurrency. It attracts investors and allows them to become millionaires. This is the conclusion that one logically comes to when one realizes that the number of owners of wallets containing a stock of BTC approaching one million is high.
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