The number of Bitcoin millionaires will double in 2023, adding over 50,000
As we enter the second quarter of 2023, Bitcoin (BTC) has continued its impressive run, gaining over 80% year-to-date. This rise in value has sparked renewed optimism around the cryptocurrency, and as a result, the number of Bitcoin millionaires has doubled. Halfway through April alone, over 50,000 new Bitcoin millionaires emerged.
According to data compiled by Finbold, the number of Bitcoin millionaire addresses as of April 14 was 80,659, representing an increase of 52,575, or 187%, as of January 5th the number of 28,084 BTC millionaire holders.
According to the data provided by BitInfoCharts.com, 74,912 different addresses have a Bitcoin balance valued at over $1 million. Additionally, 5,747 addresses have BTC worth over $10 million.
Using the Web Archive Tool Wayback MachineOn January 5, 2023, approximately 24,279 addresses owned Bitcoin, equivalent to at least $1 million, while 3,805 addresses held BTC worth over $10 million.
Bitcoin rally leads to new BTC millionaires
The recent rise in the Bitcoin price and the emergence of new millionaires can be attributed to the crypto market overcoming the bearish conditions of 2022, which were characterized by high inflation and events such as the FTX collapse.
Despite the banking crisis that unfolded in March and the uncertainty surrounding Binance, Bitcoin has continued to climb, recently hitting a peak of $31,000. This solid uptrend suggests that the crypto market continues to gain momentum, despite the challenges it has faced in the past .
As investors seek to diversify their portfolios and tap into the potential of digital assets, Bitcoin remains a leading choice for those looking to ride the wave of this exciting and dynamic market.
As it stands, Bitcoin is trading at $30,710, up 1.6% over the past 24 hours and another 10% over last week, with a total market capitalization of $594 billion, according to data obtained by Finbold on April 14 .
Crypto trading analyst Michael van de Poppe noted in a tweet on April 14, investors should prepare for some shallow corrections as it looks to test key resistance points at $31,700 – $32,000.
Meanwhile, the crypto community predicted that Bitcoin’s average price by the end of April would be $23,561 with 83% historical accuracy. On the other hand, the machine learning algorithms predicted a higher price of $30,697, closer to the current price for the same date.
Disclaimer: The content of this page should not be considered investment advice. Investment is speculative. When you invest, your capital is at risk.
