As Bitcoin Peaks Over $72K, 1,500 'Millionaire Wallets' Crop Up Each Day, Report Reveals
Portfolio Pulse from Mehab Qureshi
Bitcoin's value surge to over $72K has led to the creation of approximately 1,500 new 'millionaire wallets' each day, as reported by Kaiko Research. This increase is attributed to the enthusiasm around newly authorized ETFs that include Bitcoin, although the growth rate of millionaire wallets is slower compared to the bullish streak of 2021. Factors such as capital not fully entering the market and 'whales' possibly cashing in profits or using custodial services could explain the slower growth.
March 12, 2024 | 6:02 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Bitcoin's value has surged to over $72K, leading to the creation of around 1,500 new 'millionaire wallets' each day. This growth is partly fueled by the enthusiasm for newly authorized ETFs that include Bitcoin.
The surge in Bitcoin's value to over $72K and the creation of new 'millionaire wallets' are directly related to the increased interest and investment in Bitcoin, particularly following the authorization of ETFs that include Bitcoin. This indicates a positive short-term impact on Bitcoin's price, although the slower growth rate compared to 2021 suggests a more cautious market sentiment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100