The number of Bitcoin wallets holding at least $100 is approaching record levels, on-chain data reveals.
According to a new analysis by Binance, wallet addresses with balances of $100 or more grew from 24 million in January 2024 to nearly 30 million by 2025, representing a 25% year-over-year increase.
Historically, spikes in wallet counts holding $100 or more have coincided with bull runs, such as those in late 2017 and 2021. A comparable surge occurred in mid-2024, fueled by Bitcoin breaking past the $100,000 mark.
According to Binance, the exchange surpassed a quarter of a billion users on the last day of 2024 – achieved by adding 50 million users in less than six months.
“This remarkable achievement aligns with broader trends of adoption, where users increasingly view BTC as a store of wealth and a hedge against economic uncertainty.”
The approval of spot Bitcoin ETFs, spearheaded by BlackRock’s iShares Bitcoin Trust (IBIT), was instrumental in driving institutional adoption.
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This development represents a historic milestone in the integration of Bitcoin into traditional financial markets.
Below are the 11 approved products.… pic.twitter.com/Zn41cG9Ji0
— BitKE (@BitcoinKE) January 11, 2024
By the close of 2024, ETF holdings had doubled to 1.25 million BTC, with IBIT alone accumulating over $50 billion in assets within 11 months.
This achievement marked IBIT as the most successful ETF launch in history among the more than 1,400 ETFs offered globally by BlackRock’s iShares.
While institutional players have certainly played a significant role this cycle with the ETF launches and the establishment of bitcoin treasuries by various public companies, the rate of individual investor adoption remains robust, Binance said.
The most compelling Bitcoin story isn’t just in the price – it’s in the behavior of Bitcoin investors, added Binance.
“Over 50% of BTC in circulation has remained unmoved for the past two years, underscoring the growing conviction of long-term holders. This shift towards “HODLing” reflects increasing optimism and trust in Bitcoin’s future as a reliable store of value.”
Market sentiment remains strong, with 86% of Bitcoin in circulation currently ‘in profit,’ reflecting investor confidence and resilience for the asset which outperformed all other asset classes in 2024. Demand has gained significant momentum since late 2024, with CryptoQuant data reporting a monthly expansion of 228,000 BTC.
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In 2024, total crypto market cap almost doubled, increasing by +97.7%. It peaked at $3.91 trillion in mid-December, before consolidating at $3.40 trillion.https://t.co/mNtDl07VNc pic.twitter.com/mPtWKQrwmr
— BitKE (@BitcoinKE) January 23, 2025
Notably, accumulator addresses – wallets that continuously purchase Bitcoin without selling – have hit a record pace of 495,000 BTC per month, highlighting a steadfast belief in Bitcoin’s long-term potential.
Finally, amid the bull run, Bitcoin’s hashrate has recently hit an all-time high, exceeding the combined computing power of major tech giants like Amazon AWS, Google Cloud, and Microsoft Azure, which collectively account for less than 1% of Bitcoin’s total network capacity.
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