Crypto

A New Record in Crypto: 1 Million Wallets with At Least 1 Bitcoin

In recent weeks Bitcoin has shown its worth despite the continued uncertainty in the banking system, economy and financial markets. The data shows that people are still using Bitcoin for several reasons. But how did we reach this conclusion?

There Are At Least 1 Million Wallets with a Bitcoin Inside2A New Record in Crypto- 1 Million Wallets with At Least 1 BTC

The ripple effects of Bitcoin’s recent surge are becoming increasingly obvious . The number of Bitcoin addresses (wholecoins) with more than one Bitcoin has increased significantly according to data released by Glassnode on Monday, May 15.

The crypto data supplier reports that the latter have passed the one million milestone . This is an all-time high for the leading cryptocurrency and it was attained since last Saturday, May 13. About 190,000 complete coins would be added at the start of February 2022. This proves once and for all that Bitcoin Cash is one of the market’s most promising investments. 

Glassnode claims that bitcoin’s current rate of growth is unprecedented . This is especially true after learning that, only a few months ago the asset traded at a price that was 65% lower than its current valuation. Based on these indicators the service provider predicts that the flagship cryptocurrency might reach $35,000 by mid-2024.

 

Yet, It Does Not Mean There Are 1 Million People Who Has At Least One Bitcoin

However, Glassnode hedges its predictions about the growth of wholecoins. The crypto data supplier elaborates on the fact that a bitcoin wallet address is not always associated with a single person .

From point of view it’s easy to see how many people utilize numerous Bitcoin wallet addresses. Many of these addresses are legitimately used by institutions . In any case, given Bitcoin’s appeal it’s not out of the question that this figure keeps rising. The current price of the asset is about $26,995, down 1.56 percent from a week ago.

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Aleksei Dmitry Melnik

Financial Analyst/ Content Editor Hi there, my name is Aleksei Dmitry Melnik and I am a financial analyst and editor with a passion for cryptocurrency. I specialize in creating content that explores the intersection of global economics and the world of crypto. With over 8 years of experience in the financial industry, I have developed a keen eye for identifying trends and analyzing data. I am committed to providing my readers with insightful and actionable information that helps them navigate the complex world of finance.

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