Bitcoin 'millionaires' increased 140% as BTC price crossed $20K — data

Bitcoin (BTC) millionaires are made erstwhile the BTC terms crosses $20,000, information reveals.

According to on-chain analytics steadfast Glassnode, determination are presently implicit 67,000 BTC wallets worthy $1 cardinal oregon more.

$20,000 makes 50-BTC hodlers happy

Bitcoin is celebrated for its narration with the $20,000 terms tag.

Prominent since becoming the all-time high of Bitcoin’s erstwhile halving cycle, $20,000 is much than conscionable a method and intelligence enactment successful the sand.

As Glassnode present shows, erstwhile BTC/USD crosses that terms point, a ample fig of hodlers either summation oregon suffer U.S. dollar millionaire status.

In precocious 2022, for example, erstwhile Bitcoin fell beneath $20,000 successful the aftermath of the FTX scandal, “millionaire” wallet numbers plummeted similar a chromatic overnight.

Fast guardant to January this twelvemonth and the other tin beryllium observed — arsenic soon arsenic BTC/USD reclaimed the $20,000 mark, those wallets reappeared en masse.

On Jan. 13, with BTC/USD astatine conscionable nether $20,000, determination were astir 27,000 wallets with a equilibrium worthy $1 cardinal oregon more.

On Jan. 14, by contrast, that wallet cohort had accrued to 65,000, portion terms traded conscionable $1,000 higher. Many wallets, it appears, incorporate precisely 50 BTC.

For reference, astatine the clip of Bitcoin’s most recent all-time precocious successful November 2021, wallets worthy $1 cardinal oregon much totaled astir 113,000.

Bitcoin wallets with equilibrium worthy $1 cardinal oregon much chart. Source: Glassnode

Nearly 1 cardinal "wholecoiners"

As Cointelegraph reported, hodlers' fortunes person accrued dramatically successful the archetypal months of 2023.

Related: Bitcoin exchanges present ain 16% little BTC than the oldest hodlers

It is not lone millionaires who person regained important fiscal buoyancy mislaid during the 2022 carnivore marketplace — some semipermanent and short-term holders are knuckling down and adjacent refusing to currency out.

The fig of alleged "wholecoiners" — wallets with a equilibrium of astatine slightest 1 BTC — meantime continues to way towards the 1 cardinal people for the archetypal clip successful Bitcoin's history.

As of Feb. 28, determination are 982,726 specified wallets, Glassnode shows.

Bitcoin wallets with equilibrium of 1 BTC oregon much chart. Source: Glassnode

The views, thoughts and opinions expressed present are the authors’ unsocial and bash not needfully bespeak oregon correspond the views and opinions of Cointelegraph.