Bitcoin adds 70,000 millionaires in 2023

As the end of 2023 gets closer, and the cryptocurrency industry is about to enter a new year on a generally positive note, Bitcoin (BTC) has continued to make its investors rich for the past 12 months, turning nearly 70,000 of them into millionaires during this time.

Indeed, there are currently 97,326 Bitcoin holders whose possessions equal at least $1 million in BTC, which indicates an increase of 69,242 or 246.55% from the figure of 28,084 holders who had at least $1 million worth of BTC on January 5, 2023, as per the latest data obtained on December 25.

Bitcoin holdings distribution among addresses. Source: BitInfoCharts

Breaking the numbers further, 89,864 of these addresses had a Bitcoin balance worth over $1 million. At the same time, 7,462 of them held $10 million or more of the flagship decentralized finance (DeFi) asset, compared to 24,279 holding $1 million and 3,805 of those with north of $10 million BTC on January 5, 2023.

Bitcoin millionaires on January 5, 2023. Source: BitInfoCharts/Wayback Machine

When it comes to the largest BTC holders, it is also worth noting that the blockchain data has earlier suggested a local BTC top and that whales were taking profits, as their transactions have set off three whale alerts in December, showing the Bitcoin mean inflow on all exchanges soaring over 15 BTC, as Finbold reported on December 23.

Bitcoin price analysis

Cryptocurrency

The biggest crypto hacks in 2023

Stocks

The best-performing ETFs of 2023

Cryptocurrency

Revealed: How many times Bitcoin was declared dead in 2023

Cryptocurrency

Commodities that ‘Rich Dad’ Kiyosaki was right about in 2023

Cryptocurrency

Bitcoin Rainbow chart predicts BTC's price for Jan 1, 2024

As things stand, the largest crypto asset by market capitalization was at press time changing hands at the price of $43,203, recording a decline of 0.9% in the last 24 hours while increasing by 5.98% across the previous seven days and gaining 14.56% in the past month, and advancing 156.64% on its yearly chart.

Bitcoin year-to-date (YTD) price chart. Source: Finbold

Overall, Bitcoin has the potential to create even more millionaires, particularly if it breaks past the threshold at $45,000 predicted by the Bitcoin Rainbow chart for January 1, 2024. On top of that, approval of the first spot Bitcoin exchange-traded fund (ETF) and the upcoming halving could contribute to new highs.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Comments

Post a Comment

Popular posts from this blog

DeFi CEO Says ‘No One Cares’ to Deutsche Bank Entry into BTC Custody

Deutsche Bank to offer bitcoin custody solution for institutional clients. Cake Group CEO believes the move will not substantially increase capital inflow or attract new participants. Deutsche Bank’s Paul Maley projects the digital asset sector to grow to trillions of dollars. Julian Hosp, the CEO of DeFi business Cake Group, has shared a skeptical reaction to Deutsche Bank’s newly-launched bitcoin custody services for institutional clients. Responding to a post on X (Twitter) by Bitcoin Magazine announcing the bank’s new services, Hosp wrote “Sadly, no one cares”. In full, his response read, And guess what… sadly no one cares… because everyone in Germany can already buy #bitcoin either with an ETF (that has literally ZERO volume) or on an exchange. All these banks entering the space, are not bringing in extra money or people. They are just re-routing existing… https://t.co/MMZHSbGB9U — Dr. Julian Hosp (@julianhosp) September 15, 2023 T...
Read more

MATIC Price Plunges, Have the Bulls Finally Lost Control?

Image
MATIC witnessed a decline in bullish momentum and has lost hold of the $0.74 psychological support. Buying pressure was weak as the CMF hovered around the zero line. Traders might likely short/sell MATIC in the near term since the 50 EMA crossed over the 20 EMA. Polygon (MATIC) brief dip below $0.78 has turned out to be an event that has lasted a whopping five days. Over the last 24 hours, the altcoin had lost 2.32% of its value. But its last 30 days’ performance was controlled by the bulls where MATIC increased by 6.61%. Currently, the MATIC/USD 4-Hour chart shows that the altcoin was hovering around a tight support zone at $0.71. Due to decreased demand, MATIC’s buying strength has been cut off. This indicates bearish dominance around $0.72. For MATIC to regain bullish momentum, the price must rise above the $0.74 psychological level. But if selling pressure outweighs demand, then the recovery attempt could be quenched. Furthermore, bears have ...
Read more

Crypto Analyst: PEPE Will Outperform DOGE in Next Bull Cycle

Image
Miles Deutscher predicts PEPE will outperform DOGE in the next bull cycle. Deutscher noted that fewer PEPE holders are underwater compared to DOGE holders. PEPE has more multiples to reach its previous all-time high (ATH) compared to DOGE. PEPE will outperform DOGE in the next bull cycle, predicts Miles Deutscher, a renowned cryptocurrency analyst. In a Twitter post, Deutscher highlighted the reasons behind his prediction. I think $PEPE outperforms $DOGE next cycle. Why? • The Underwater Thesis: Less PEPE holders underwater vs DOGE, meaning less sell pressure on the way up + lower multiples to reach previous ATH (2.8x vs 12x). • People are more fatigued with the DOGE meme, Pepe feels fresher… — Miles Deutscher (@milesdeutscher) June 23, 2023 Deutscher’s first reason for supporting PEPE to outperform DOGE in the next cycle is what he called “The Underwater Thesis.” He noted fewer PEPE holders are “underwater” compared to DOGE holders. By that, he me...
Read more