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Bitcoin adds 70,000 millionaires in 2023

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

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.

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