Crypto's 15 Celebrated Years Decorate Bitcoin Millionaire Wallets With 300% Growth
Portfolio Pulse from Khyathi Dalal
The number of Bitcoin millionaire wallets has increased by 300% over the past year, reaching over 91,000. The number of 'wholecoiners' has also surpassed one million. Despite this growth, the figures have not reached the all-time high of November 2021. The top 100 richest Bitcoin addresses include a Binance cold wallet worth approximately $10.7 billion and a Bitfinex cold wallet valued at around $9 billion. Cathie Wood of Ark Invest compared Bitcoin to physical gold, and its market capitalization stands at $840.7 billion, making it the ninth most valuable asset globally. Bitcoin's year-to-date gains are 1.6%, with the overall crypto market capitalization at $1.67 trillion.
January 03, 2024 | 8:48 pm
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POSITIVE IMPACT
Bitcoin's significant increase in millionaire wallets and 'wholecoiners' reflects growing investor interest and potential market strength. The comparison to gold by Cathie Wood and its position as the ninth most valuable asset may bolster investor confidence.
The growth in the number of Bitcoin millionaire wallets and 'wholecoiners' indicates a strong and increasing investor interest in Bitcoin, which could lead to a positive short-term impact on its price. Cathie Wood's comparison of Bitcoin to gold and its high market capitalization further support the potential for price appreciation. However, the market remains volatile, and external factors could influence the price in unpredictable ways.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100