bitcoin's resurgence in 2023 has created wealth for many cryptocurrency investors as there has been a significant increase in the number of bitcoin millionaires. These bitcoin millionaires happen to be wallet addresses whose btc holdings equal $1 million or more.
Number of bitcoin millionaires
According bitcoin-addresses.html” rel=”nofollow”>data from BitInfoCharts, there are currently 97,497 bitcoin millionaires This represents a significant increase from the beginning of the year, when the number of wallet addresses equivalent to $1 million or more stood at 23,795, according to btc&category=&m=addresses.Min1MUsdCount&s=1608203952&u=1677628800&zoom=” rel=”nofollow”>data from Glassnode.
This development is attributed to bitcoin's price resurgence this year, with the crypto token experiencing a gain of over 158% so far this year. At the beginning of the year, the price of bitcoin stood at just over $16,000. However, as the price of the flagship cryptocurrency began to rise, so did made his number of millionaires.
Further bitcoin-addresses.html” rel=”nofollow”>data from BitInfoCharts divides these bitcoin millionaires into two categories. The number of addresses exceeding $1 million is 90,040, while 7,457 wallet addresses have $10 million or more.
Meanwhile, other addresses below $1 million have also made huge profits. Market intelligence platform Santiment recently reported that 89% of the total bitcoin supply is profit. 2024 could be a better year for these directions, considering that the Bull market It is expected to begin operation next year.
Meanwhile, some of these bitcoin millionaires and people with significant holdings appear to be making profits. NewsBTC recently reported how bitcoin whales had sold around 50,000 btc, which is equivalent to about $2.2 billion.
<img decoding="async" class="aligncenter size-medium" src="https://technicalterrence.com/wp-content/uploads/2023/12/Billionaire-Tim-Draper-Predicts-When-Bitcoin-Price-Will-Hit-250000" alt="Tradingview.com bitcoin Price Chart” width=”3266″ height=”1530″ loading=”lazy”/>
btc price retraces to $42,600 | Source: BTCUSD on Tradingview.com
Spot ETFs are about two weeks away
One of the most important moments for bitcoin and the cryptocurrency industry could come as early as January 10. This is the period in which Experts predict that he National stock market Commission (SEC) will approve pending bitcoin spot ETFs, and there is optimism in the air as many stocks point to an approval coming.
Cryptocurrency stakeholders have had their eyes on developments revolving around these bitcoin Spot ETFs. The reason is not far-fetched, since these funds could unlock fresh liquidity in the bitcoin ecosystem. Trading company QCP Capital had highlighted this as the catalyst for bitcoin to reach its all-time high (ATH) and possibly new ATHs.
At the same time, people like the former CEO of cryptocurrency exchange BitMEX, Arthur Hayes, will hope that these ETFs do not achieve much success as he says could lead to the fall of bitcoin.
At the time of writing, bitcoin is trading at around $42,678.76, down more than 1% in the last 24 hours according to bitcoin/” rel=”nofollow”>data from CoinMarketCap.
Featured image from crypto News, chart from Tradingview.com
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