The number of Bitcoin wallet addresses holding at least one whole Bitcoin (BTC) has exceeded one million. This significant milestone was recorded on May 13, according to blockchain analytics firm, Glassnode.
The number of Bitcoin wallets holding over 1 BTC has been steadily increasing in recent years. In 2017, there were only 250,000 wallets holding over 1 BTC. By 2020, that number had increased to 500,000. And in 2022, the number of wallets holding over 1 BTC has increased to over 1 million.
The increase in the number of wallets holding over 1 BTC is a sign of growing institutional and retail adoption of Bitcoin. Institutional investors, such as hedge funds and asset managers, are increasingly buying Bitcoin as a store of value. And retail investors, such as individuals and small businesses, are also buying Bitcoin as a way to protect their wealth from inflation and other economic risks.
The increase in the number of wallets holding over 1 BTC is also a sign of growing confidence in Bitcoin. As more people buy and hold Bitcoin, the network becomes more secure and decentralized. This makes Bitcoin more attractive to investors and helps to drive its price up.
The milestone of over 1 million wallets holding over 1 BTC is a significant achievement for Bitcoin. It is a sign of the growing adoption of Bitcoin by institutions and retail investors. And it is a sign of the growing confidence in Bitcoin as a store of value and a digital asset.