The number of Bitcoin “millionaire” wallets has tripled in 2023, with over 81,900 wallets currently holding more than $1 million in BTC, indicating a significant increase in wealth accumulation within the crypto space.
According to BitInfoCharts data, the number of addresses with over $1 million in Bitcoin has surged from 23,705 at the start of the year to 81,960 currently, marking a remarkable 230% increase over the past 11 months.
It’s worth noting that these millionaire wallets aren’t necessarily owned by individual users, as many belong to crypto exchanges and financial institutions. However, this substantial growth underscores the rising prominence of Bitcoin as a store of value.
Comparative data from Glassnode reveals that the number of addresses holding more than $1 million in Bitcoin peaked during the last bull market in November 2021, reaching a record high of 112,573 addresses on November 9, 2021, just before Bitcoin hit its all-time high of $69,000 on November 10, 2021.
Meanwhile, the number of “wholecoiners” – wallets with at least 1 BTC – has seen a slight increase since the beginning of the year, reaching 1,018,015 addresses, up by 4% from January 1.
Despite fluctuations, Bitcoin’s price has been on the rise, currently trading at nearly $37,100, up by 38% over the last month. Market optimism surrounding pending spot exchange-traded fund (ETF) products has been a driving force behind this surge.
