Bitcoin's Millionaire Club Expands: Wallets with $1M+ Balances Triple in 2023
Portfolio Pulse from Mehab Qureshi
The number of Bitcoin wallet addresses holding over $1 million has tripled in 2023, reaching over 81,000. This increase is partly due to the recent Bitcoin price surge, with the cryptocurrency trading around $37,100, a 38% increase over the past month. The growth is attributed to market excitement over potential spot ETF products and indicates Bitcoin's rising popularity as a long-term investment.
November 13, 2023 | 7:54 am
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The tripling of Bitcoin millionaire wallets and the price surge to $37,100 suggest a strong market sentiment and increased investor interest, potentially leading to further short-term price appreciation.
The significant increase in high-value Bitcoin wallets and the current price momentum, driven by the anticipation of spot ETFs, are likely to positively influence Bitcoin's price in the short term as they reflect growing investor confidence and market interest.
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