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Report Says 81,717 Wallet Addresses Hold Over $1 Million In Bitcoin

Published 11/14/2023, 02:24 AM
Updated 11/14/2023, 02:45 AM
© Reuters. Report Says 81,717 Wallet Addresses Hold Over $1 Million In Bitcoin
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  • Cryptocurrency wallet addresses with over $1 million in Bitcoin increased by 237% this year.

  • The peak number of millionaire Bitcoin wallets was 112,573, just before Bitcoin’s all-time high in 2021.

  • Many high-value Bitcoin addresses belong to institutions, not individuals, such as MicroStrategy’s holdings.

This year, there has been a significant increase in the number of cryptocurrency wallet addresses containing Bitcoin valued at over $1 million. According to BitInfoCharts, these addresses have grown from 23,795 at the beginning of the year to 81,717 currently, marking a 237% rise within a span of 11 months.

81,717 wallet addresses possess over $1 million in Bitcoin

Data from Glassnode reveals that the highest number of these millionaire wallets was recorded at the peak of the last bull market. On November 9, 2021, a day before Bitcoin reached its all-time high of $69,000, the number of such addresses hit a record of 112,573.

The millionaire wallets are not one-to-one with individual users, as many addresses with more than $1 million BTC belong to crypto exchanges and financial institutions. For instance, as of November 1, 2023, MicroStrategy held 158,4…

The post Report Says 81,717 Wallet Addresses Hold Over $1 Million In Bitcoin appeared first on Coin Edition.

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