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Bitcoin creates 48,000 new crypto millionaires in 2023

Bitcoin creates 48,000 new crypto millionaires in 2023

With the first half of 2023 already over, Bitcoin (BTC) has gone through some turbulent times but has nonetheless managed to grow its price by over 55% since the year’s turn, sparking renewed optimism among investors and turning nearly 48,000 of them into millionaires.

Indeed, the number of Bitcoin millionaire addresses at press time stood at 76,078, representing an increase of 47,994 or 170.89% from the January 5 figure of 28,084 holders who had at least $1,000,000 worth of BTC in their possession, as per data retrieved by Finbold on June 13.

Bitcoin distribution among addresses. Source: BitInfoCharts

Specifically, among these millionaire wallets, 70,747 different addresses have a Bitcoin balance valued at more than $1 million, whereas 5,331 holders possess at least $10 million worth of BTC, as the flagship decentralized finance (DeFi) asset holder distribution breakdown indicates.

By comparison, on January 5, 2023, the number of Bitcoin millionaires stood at 28,084, with 24,279 addresses holding at least $1 million worth of BTC, whereas 3,805 of them had at least $10 million worth of the maiden cryptocurrency, according to the data accessed using the web archive tool Wayback Machine

Bitcoin distribution on January 5, 2025. Source: BitInfoCharts/Wayback Machine

Bitcoin price analysis

Meanwhile, Bitcoin was at press time changing hands at the price of $26,119, up 1% in the last 24 hours and recording a modest gain of 1.37% across the previous seven days, as it moves to reverse the losses of 2.75% on its monthly chart, as per the information on June 13.

Bitcoin 7-day price chart. Source: Finbold

As Finbold reported earlier, crypto wallets owning between 100 and 10,000 BTC have added nearly 60,000 more of the largest crypto asset by market capitalization to their holdings as its price dropped by 10% since April 9, creating bullish divergence and indicating the possibility of the future strong rebound.

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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