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There are over 80,000 Bitcoin millionaires: 187% increase for Q1 2023

Bitcoin is approaching a new milestone as the recent rally above $30,000 has created over 50,000 Bitcoin millionaires.

Bitcoin (BTC) has maintained its stellar run that started in early 2023. Bitcoin is up more than 80% so far this year and up around 100% from its bottom in November 2022. 

The number of Bitcoin millionaires has increased massively as a result of the digital currency’s recent price increase, which has rekindled interest in the digital asset. 

Bitcoin millionaires on the rise

While there are many cryptocurrencies to choose from, Bitcoin is the favorite choice of long-term investors. Investors accumulate Bitcoin without any significant change in the last few years. More than 50,000 new Bitcoin millionaires have been generated in the last couple of months. 

 Related article: Warren Buffett strikes again – calls Bitcoin a “gambling token”

According to Finbold, the number of Bitcoin millionaire addresses increased from 28,084 in early January to 80,659 as of April 14thThis is a growth of 52,575 Bitcoin millionaires or an increase of 187% in about 3 months. 

Bitcoin millionaires, source:

This is an admirable pace of growth that points to investors’ interest in digital assets despite the unpleasant bear market of 2022. Around 75,000 crypto wallets hold at least $1 million Bitcoin (i.e. 33 bitcoins), and almost 6,000 addresses hold bitcoins worth more than $10 million.

Is this trend going to continue?

The negative conditions of 2022, which were characterized by excessive inflation and events like the FTX crash, have finally been overcome by the crypto market. That allowed a recent spike in Bitcoin price and the appearance of richer crypto investors. 

Also read: Twitter to allow stock & crypto trading in new partnership with eToro

Bitcoin’s price topped $31,000 amid Ethereum’s Shanghai upgrade, despite the banking crisis and the ongoing uncertainty surrounded by a heightened regulatory overview on crypto. But the crypto market is finally recovering as expected after a long crypto winter. 

Bitcoin daily chart, source:


However, the largest cryptocurrencies such as Bitcoin lead the way, while altcoins are still moving sideways. Bitcoin is still the go-to cryptocurrency for investors wishing to diversify their portfolios and profit from the growth of the digital asset market.

I got into financial markets by accident in 2012 and started with Forex trading. Later in 2017, I started investing in stocks in cryptocurrencies and began writing articles profess...


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