Bitcoin Millionaire Club Triumphs: Wallet Numbers Triple in 2023
Bitcoin's surge in value leads to a 237% increase in million-dollar wallets, with traditional finance sectors joining in and influential figures like Brian Armstrong and Michael Saylor shaping the market's future.
Data from BitInfoCharts reveals an impressive 237% surge in the number of wallets holding over $1 million in Bitcoin this year, a testament to Bitcoin’s soaring prominence. This surge isn’t just from individual investors but also marks the traditional finance sector’s growing embrace of Bitcoin as a viable investment and a store of value.
Bitcoin addresses with values exceeding $1 million peaked in November 2021, at the height of the previous bull market, with a staggering 112,573 addresses registered on November 9, 2021, just a day before Bitcoin hit its all-time high of $69,000. This growth in wealthy Bitcoin holders is paralleled by a consistent rise in “wholecoiners” – those owning at least one Bitcoin. Glassnode data shows a 4% increase in the number of wholecoiners since the beginning of 2023, despite several downturns in the Bitcoin market.
Among the Bitcoin whale rank, names like Brian Armstrong (Coinbase CEO), Michael Saylor (CEO of MicroStrategy), Changpeng “CZ” Zhao (Binance CEO), Tim Draper, and the Winklevoss Twins stand out as influential figures who shape the future of finance.
Bitcoin’s price volatility remains a notable aspect. Over a recent weekend, Bitcoin’s trading price oscillated between $36,800 and $37,050, marking a nearly 40% surge in the past month. This rally is driven by optimistic projections surrounding the anticipated approval of a spot exchange-traded fund (ETF) for Bitcoin. Bloomberg’s ETF analysts predict a 90% chance of approval by January 10th, fostering expectations of an impending price rally. Michael Saylor and others predict a tenfold surge in Bitcoin demand within the upcoming year.
As financial institutions join the ranks, Bitcoin is transforming from a subject of skepticism to a cornerstone of investment portfolios, with the identities of Bitcoin titans not just mattering—they’re shaping the future of finance.
