Bitcoin ($BTC) adoption has kept on rising over the past few months with the rise of the total number of unique addresses holding at least one BTC reaching a new high above the one million mark.
According to blockchain data shared by analysis firm Glassnode, the new record was set on May 12 and shows there’s growing interest in the flagship cryptocurrency as accumulation is ongoing. At the time of writing the number of addresses holding one whole BTC, often referred to as “wholecoiner” addresses, has grown to 1,000,527. On February 2, the figure crossed the 800,000 mark.
The recent achievement can be largely credited to the ongoing bear market, during which Bitcoin’s value has seen a severe downturn of over 65% within the past year. It’s worth noting that in June and November, when the space was dealing with the collapse of significant players, the number of wholecoiner addresses jumped as others accumulated tokens.
It’s worth clarifying that achieving the one-million mark in wallet addresses holding at least one Bitcoin doesn’t necessarily denote that there are a million distinct individuals or institutions possessing such amounts.
Given that many cryptocurrency investors and institutions maintain multiple Bitcoin addresses, the actual count of individual holders could be less than one million. As the number of wholecoiner addresses hits a record high, the count of non-zero Bitcoin addresses has also seen significant growth, increasing by more than 15% over the last 15 months.
As CryptoGlobe reported, billionaire hedge fund manager Paul Tudor Jones II has recently revealed he is “sticking with” the flagship cryptocurrency Bitcoin and will maintain it as a “small diversification” in his portfolio.
Per the billionaire, Bitocin and gold have “done so well recently because of the fact that we have had these great risk premiums.” He added, however, that in the United States Bitcoin has the “entire regulatory apparatus against it.”
Earlier Jurrien Timmer, Director of Global Macro at Fidelity Investments, has expressed his views on Twitter concerning the unexpected rise of Bitcoin and gold as the top performers of 2023. He theorized that this could be a result of market sentiment or a more substantial underlying cause, hinting at a potential repeat of the financial repression seen 80 years ago.
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