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Bitcoin adoption skyrockets: Nearly a million addresses now hold 1+ BTC

Bitcoin adoption skyrockets: Nearly a million addresses now hold 1+ BTC

As the cryptocurrency industry continues to expand and evolve, and Bitcoin (BTC) files an impressive 70% price increase since the year’s turn, the flagship decentralized finance (DeFi) asset is also recording milestone results in the number of its holders.

Specifically, the number of crypto wallets holding at least one Bitcoin has recently reached a new all-time high (ATH), getting close to the number of 1 million holders, according to the data from the cryptocurrency tracking platform LookIntoBitcoin shared by Twitter user Bitcoin Archive on April 9.

Addresses holding at least 1 BTC. Source: Bitcoin Archive/LookIntoBitcoin

Over 46 million holders

At the same time, the total number of Bitcoin holders has been rising at the fastest rate since early 2021, when the price of BTC surpassed $64,000 for the first time in its existence, according to the information and chart shared by the crypto analytics platform Santiment on April 9.

Indeed, the chart indicates that the total number of addresses holding any amount of Bitcoin has reached 46.16 million in the past several days, in a pattern that resembles the one occurring from January 2021 through April 2021, with a price that is currently over 55% lower than at that time.

Total number of Bitcoin holders. Source: Santiment

As the platform’s team explained in the tweet, the rising rate of people ‘hodling’ the maiden digital asset in their wallets could be due to crypto traders seemingly becoming “increasingly content in keeping their bags unmoved for the long term.”

Bitcoin price analysis

Meanwhile, Bitcoin was at press time changing hands at the price of $28,319, recording an increase of 1.44% over the previous 24 hours and a 0.29% gain during the last week, as it added up to the cumulative growth of 40.23% on the coin’s monthly chart and 70% year-to-date.

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

Notably, Bitcoin adoption could also receive a boost from the Democrat presidential bid of the environmental lawyer Robert F. Kennedy Jr., who earlier warned about the possible dangers of central bank digital currencies (CBDCs), as Bitcoin outperformed the top five major indexes in the first quarter of 2023.

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