The count of Bitcoin millionaires has reached 82,090 in November 2023 as of this writing, recent data from BitInforCharts shows.
This marks a significant surge compared to the 23,795 millionaires reported on January 1 2023, reflecting a notable growth of over 300% in the number of Bitcoin millionaires in 2023.
More specifically, there are 82,090 addresses holding a minimum of $1 million in Bitcoin (BTC), and among them, 6,687 addresses possess at least $10 million worth of the cryptocurrency.
In contrast, on January 5 2023:
- There were 28,084 Bitcoin millionaires.
- Among them, 24,279 addresses held a minimum of $1 million worth of BTC.
- Additionally, only 3,805 addresses possessed at least $10 million worth of Bitcoin at that time.
- Moreover, the number of whole-coiners, which refers to wallets with a balance of at least 1 BTC, has seen a slight increase since the beginning of the year.
- Currently (November 2023), there are 1,018,015 such addresses, reflecting a 4% growth from 978,197 on January 1 2023.
The increase in Bitcoin millionaires can be attributed to the rise in the asset’s price, which has pushed the digital currency to around $37,000. This surge comes after Bitcoin spent a significant amount of time below the $30,000 threshold earlier in 2023.
Bitcoin has emerged as one of the best-performing assets so far in 2023, after weathering a difficult 2023 to rise by over 100%, as the cryptocurrency sector looks to be putting 2022 obstacles behind it.
Bitcoin’s recent surge can be attributed to several factors, with one significant catalyst being the anticipation of the approval of the first Bitcoin spot exchange-traded Fund (ETF). The prospect of a Bitcoin ETF has generated increased interest and investment in the cryptocurrency.
The bullish trend in Bitcoin’s price and the growing number of millionaires in the market are supported by strong liquidity trends. Recent data from crypto market intelligence firm, Glassnode, indicates that Bitcoin’s available supply has reached a historical low.
That suggests a tightening supply and a reluctance among existing holders to sell their Bitcoin, contributing to the overall positive momentum in the market.
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