A new milestone: 1M addresses hold 1 Bitcoin

pawel7777

legendary

Activity: 2436

Merit: 1561

Quote from: sokani on May 15, 2023, 04:04:12 PM

The last past weeks have been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of address holding atleast 1 BTC are now 1 million. According to the report, last year when the market took a deep dive, a good number of persons were wise enough to grab some bags. Although, some addresses belong to crypto exchanges and some persons might have more than one wallet address but this milestone achievement is worth celebrating.

Source: https://cryptoslate.com/insights/a-new-milestone-1m-addresses-hold-1-bitcoin/

It's a bit surprising, according to the chart in the linked article, there's a long-term trend of the number of wallets with one or more bitcoin increasing over time. This goes against the theory that bitcoins (or wealth in general) have a tendency of getting concentrated in the hands of the few richest holders. Unless a number of wallets is not a good indication of a number of users, and maybe it's just a sign of whales splitting their holdings into smaller wallets, for safety or convenience.

bitterguy28

full member

Activity: 2170

Merit: 182

“FRX: Ferocious Alpha”

Quote from: Minecache on May 25, 2023, 04:27:32 AM

Quote from: bitterguy28 on May 24, 2023, 08:21:03 PM

Quote from: crunck on May 24, 2023, 07:32:24 PM

Quote from: South Park on May 24, 2023, 06:09:07 PM

.....
and when it comes to altcoins I prefer to stay away from most of them, however once the bull market is present it may not be a bad idea to invest some of our profits in an altcoin or two, as the altcoin season has the tendency to appear a little bit later than the bitcoin bull run.

Profits from altcoins are so good, there's no reason to stay away from them. But we need to invest at the right time to get the best return, and I agree with you, only invest in altcoins during the bull season because then the risk is not too high, and making a profit will be easy. During the bull season, when bitcoin goes up in price, the entire market goes up, so it's easy to pick potential altcoins to invest in.

that is not correct mate , we must not invest in bull run instead best to start investing when there is a bear so we can keep the coin holding and yes after the bear the fruits of investment will come .
remember that every after bear then bull run is coming and that is what this investment makes profitable .

It's not entirely true, but it's not altogether wrong, either. I think we should limit investing in altcoins during the down season, with altcoins, we won't know which coins will recover and rise again because there are too many altcoins that will never recover. As previous bear seasons have shown, many of the market's potential altcoins in 2017 failed to return to their old ATH, and most have been replaced by new altcoins in 2021. And I think history will most likely repeat itself, 2021 topcoins will be replaced by newer altcoins in the next bull season. So it is risky to invest in altcoins during the bear season, and it makes more sense to invest in the bull season as most will go up when bitcoin conquers new ATH.

actually what I pointed out is what he said about best to buy in bullrun in which you are also correct that it is not completely wrong(because we need to buy either bull or bear) but the best chance is always when there is a bear because the lower we buy is the higher we can profit once the increase happens in the coming years.

Quote from: Minhxx on May 25, 2023, 06:28:19 AM

Currently bitcoin is regulating , I believe btc is more and more popular in the world if it is accepted for payment of services, Not manipulated by the market

It is accepted as payment service in some part mate so we only need a mas adoption for all of this to take place.

Minhxx

jr. member

Activity: 412

Merit: 3

Currently bitcoin is regulating , I believe btc is more and more popular in the world if it is accepted for payment of services, Not manipulated by the market

Minecache

legendary

Activity: 2184

Merit: 1024

Vave.com - Crypto Casino

Quote from: bitterguy28 on May 24, 2023, 08:21:03 PM

Quote from: crunck on May 24, 2023, 07:32:24 PM

Quote from: South Park on May 24, 2023, 06:09:07 PM

.....
and when it comes to altcoins I prefer to stay away from most of them, however once the bull market is present it may not be a bad idea to invest some of our profits in an altcoin or two, as the altcoin season has the tendency to appear a little bit later than the bitcoin bull run.

Profits from altcoins are so good, there's no reason to stay away from them. But we need to invest at the right time to get the best return, and I agree with you, only invest in altcoins during the bull season because then the risk is not too high, and making a profit will be easy. During the bull season, when bitcoin goes up in price, the entire market goes up, so it's easy to pick potential altcoins to invest in.

that is not correct mate , we must not invest in bull run instead best to start investing when there is a bear so we can keep the coin holding and yes after the bear the fruits of investment will come .
remember that every after bear then bull run is coming and that is what this investment makes profitable .

It's not entirely true, but it's not altogether wrong, either. I think we should limit investing in altcoins during the down season, with altcoins, we won't know which coins will recover and rise again because there are too many altcoins that will never recover. As previous bear seasons have shown, many of the market's potential altcoins in 2017 failed to return to their old ATH, and most have been replaced by new altcoins in 2021. And I think history will most likely repeat itself, 2021 topcoins will be replaced by newer altcoins in the next bull season. So it is risky to invest in altcoins during the bear season, and it makes more sense to invest in the bull season as most will go up when bitcoin conquers new ATH.

ChiBitCTy

legendary

Activity: 2282

Merit: 3014

Wow, I'm actually surprised the number is that high. I would be interested in knowing what the actual/true number is for how many different people own those addresses out of the entire 1 million. I would have to guess that at least 15% of the 1 million address are those that are owned by the same/singular person.

As you point out this network clogging thanks to ordinals is not a good look for bitcoin and mostly just entirely fucking stupid imo, but at least it's being so heavily utilized.

bitterguy28

full member

Activity: 2170

Merit: 182

“FRX: Ferocious Alpha”

Quote from: crunck on May 24, 2023, 07:32:24 PM

Quote from: South Park on May 24, 2023, 06:09:07 PM

.....
and when it comes to altcoins I prefer to stay away from most of them, however once the bull market is present it may not be a bad idea to invest some of our profits in an altcoin or two, as the altcoin season has the tendency to appear a little bit later than the bitcoin bull run.

Profits from altcoins are so good, there's no reason to stay away from them. But we need to invest at the right time to get the best return, and I agree with you, only invest in altcoins during the bull season because then the risk is not too high, and making a profit will be easy. During the bull season, when bitcoin goes up in price, the entire market goes up, so it's easy to pick potential altcoins to invest in.

that is not correct mate , we must not invest in bull run instead best to start investing when there is a bear so we can keep the coin holding and yes after the bear the fruits of investment will come .
remember that every after bear then bull run is coming and that is what this investment makes profitable .

crunck

legendary

Activity: 1176

Merit: 1005

crunck

Quote from: South Park on May 24, 2023, 06:09:07 PM

.....
and when it comes to altcoins I prefer to stay away from most of them, however once the bull market is present it may not be a bad idea to invest some of our profits in an altcoin or two, as the altcoin season has the tendency to appear a little bit later than the bitcoin bull run.

Profits from altcoins are so good, there's no reason to stay away from them. But we need to invest at the right time to get the best return, and I agree with you, only invest in altcoins during the bull season because then the risk is not too high, and making a profit will be easy. During the bull season, when bitcoin goes up in price, the entire market goes up, so it's easy to pick potential altcoins to invest in.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: Minecache on May 21, 2023, 03:04:35 AM

I don't think many people see the benefits of the bitcoin price drop or the bear market as something in our favor. Because as I observe most of the bitcoin price prediction topics, everyone wants bitcoin to continue to rise and recover quickly to 40k or 50k. Few expect the bear season to last or bitcoin to fall below $20k again. Or it looks like many people bought at a higher price, so most don't want to see bitcoin drop in price.

It's still the right time to buy bitcoin, but I don't think altcoins are a good option, I mean, I haven't seen any altcoins with a utility or use case. It's all just a cliché theory, no project has been put into practice yet, so don't believe what they advertise. Investing in altcoins is not bad, but it needs to be at the right time, now is not the time to believe in altcoins.

Although bitcoin is 14 years old, we are still in the early stages of this revolution, so don't miss this once-in-a-lifetime opportunity.

Those which do not like the idea of seeing the price of bitcoin drop are the ones that probably entered the market recently and they are just at their breakeven point at the current prices, however the rest of the market participants which have been here for a longer period of time probably look forward to a decrease on the price of bitcoin, and when it comes to altcoins I prefer to stay away from most of them, however once the bull market is present it may not be a bad idea to invest some of our profits in an altcoin or two, as the altcoin season has the tendency to appear a little bit later than the bitcoin bull run.

flyingcarpet

full member

Activity: 406

Merit: 188

Quote from: sokani on May 15, 2023, 04:04:12 PM

The last past weeks have been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of address holding atleast 1 BTC are now 1 million. According to the report, last year when the market took a deep dive, a good number of persons were wise enough to grab some bags. Although, some addresses belong to crypto exchanges and some persons might have more than one wallet address but this milestone achievement is worth celebrating.

Source: https://cryptoslate.com/insights/a-new-milestone-1m-addresses-hold-1-bitcoin/

The more valuable something is, the more people it serves. I think that's what makes Bitcoin beautiful. He states that everyone is equal in society and bitcoin doesn't just choose a certain segment. Anyone who wants to access Bitcoin must access and use it. I am really happy with this news. Even though I don't have 1 bitcoin, it's good news that so many people have it.

drwhobox

full member

Activity: 756

Merit: 133

- hello doctor who box

Quote from: FrozenBit on May 24, 2023, 04:32:09 PM

This is a good thing when Bitcoin achieves a new milestone in its history. Changes in ownership among Bitcoin holders occur continuously. Some individuals may choose to sell their holdings during the bull run to take advantage of the price increase, while others may see it as an opportunity to accumulate more Bitcoin. This dynamic between buyers and sellers contributes to the constant circulation of Bitcoin in the market. More than that, as the number of Bitcoin holders increases and awareness increases, it can contribute to continued Bitcoin use and acceptance in various ways. Also If historical patterns persist, the halving could contribute to an increase in the number of wallets holding more than 1 bitcoin, as scarcity and the potential for a long-term appreciation of value will drive the accumulation strategy.

Indeed great news. This indicates that people now holding and investing in bitcoin more than ever. One million is a huge number and imagine how many addresses hold at least 0.01 bitcoin. I think people now believe in bitcoin and many people are investing in it. I saw so many people posting on the forum about implementing bitcoin into their business. All these positive actions helps bitcoin to grow more.

FrozenBit

full member

Activity: 658

Merit: 102

PredX - AI-Powered Prediction Market

This is a good thing when Bitcoin achieves a new milestone in its history. Changes in ownership among Bitcoin holders occur continuously. Some individuals may choose to sell their holdings during the bull run to take advantage of the price increase, while others may see it as an opportunity to accumulate more Bitcoin. This dynamic between buyers and sellers contributes to the constant circulation of Bitcoin in the market. More than that, as the number of Bitcoin holders increases and awareness increases, it can contribute to continued Bitcoin use and acceptance in various ways. Also If historical patterns persist, the halving could contribute to an increase in the number of wallets holding more than 1 bitcoin, as scarcity and the potential for a long-term appreciation of value will drive the accumulation strategy.

ektotanes

jr. member

Activity: 61

Merit: 6

It's great that people were able to accumulate some bitcoin while they had the opportunity. This milestone is worth celebrating!

Minecache

legendary

Activity: 2184

Merit: 1024

Vave.com - Crypto Casino

Quote from: tjtonmoy on May 21, 2023, 12:46:08 PM

Quote from: Minecache on May 21, 2023, 03:04:35 AM

~Snip

Alts were never an option from the beginning. They are just a cheap copy of Bitcoin itself, and they can never provide what they have promised. Always saying that they are better than Bitcoin, bla bla bla. Like, where's your proof? At least do the half what Bitcoin is capable of. Those who knows this, they will never choose other ALTS over Bitcoin. And only those who are not capable of holding for a long time will say that Bear market is bad business. Also newbies who will face it for the first time.

I do not recommend anyone to invest in altcoins at this stage because it is too risky. But as I said above, investing in altcoins is not necessarily bad, but we want to invest and need to choose the right time. In my opinion, altcoins are suitable for short-term investment and preferably during the bull season, never hold them for as long as bitcoin.

I think we are here for profit, so there is no need to be so stubborn and pass up other opportunities. For the safety of our investment, bitcoin is always the preferred choice, but the opportunity with altcoins should not be missed. Don't worry too much about alts being junk or trash, but as long as they're profitable, don't ignore them. Why not speculate on altcoins for profit and accumulate bitcoins afterward?

calonpa

jr. member

Activity: 31

Merit: 2

Quote from: sokani on May 15, 2023, 04:04:12 PM

The last past weeks have been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of address holding atleast 1 BTC are now 1 million. According to the report, last year when the market took a deep dive, a good number of persons were wise enough to grab some bags. Although, some addresses belong to crypto exchanges and some persons might have more than one wallet address but this milestone achievement is worth celebrating.

Source: https://cryptoslate.com/insights/a-new-milestone-1m-addresses-hold-1-bitcoin/

It is a very good stat which shows that more and more people are using bitcoin. They are holding 1 bitcoin which is big amount in dollars and this shows their trust on crypto. The numbers will increase with time with more users.

tjtonmoy

sr. member

Activity: 1008

Merit: 366

Quote from: Minecache on May 21, 2023, 03:04:35 AM

~Snip

Alts were never an option from the beginning. They are just a cheap copy of Bitcoin itself, and they can never provide what they have promised. Always saying that they are better than Bitcoin, bla bla bla. Like, where's your proof? At least do the half what Bitcoin is capable of. Those who knows this, they will never choose other ALTS over Bitcoin. And only those who are not capable of holding for a long time will say that Bear market is bad business. Also newbies who will face it for the first time.

livingfree

hero member

Activity: 2884

Merit: 579

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: rybako on May 21, 2023, 03:33:13 AM

This is because of current prices. Even the current price point is a good time to entry. Anyone holding one bitcoin can make about $100000 in profit in next year at current prices and past growth.

We're certain and hoping that $100k is going to happen soon but not everyone can avail to have 1 Bitcoin and those that have it, well, we're just waiting for the right time until it comes.

And this milestone will not stop and it will more astonishing in the near future when everyone starts to see how much bitcoin is once again.

Quote from: rybako on May 21, 2023, 03:33:13 AM

No other investment will give these returns.

Well, those that have made a lot of profits with altcoins can argue with you. But of course, we're forever with and for Bitcoin.

rybako

jr. member

Activity: 80

Merit: 3

Quote from: sokani on May 15, 2023, 04:04:12 PM

The last past weeks have been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of address holding atleast 1 BTC are now 1 million. According to the report, last year when the market took a deep dive, a good number of persons were wise enough to grab some bags. Although, some addresses belong to crypto exchanges and some persons might have more than one wallet address but this milestone achievement is worth celebrating.

Source: https://cryptoslate.com/insights/a-new-milestone-1m-addresses-hold-1-bitcoin/

This is because of current prices. Even the current price point is a good time to entry. Anyone holding one bitcoin can make about $100000 in profit in next year at current prices and past growth. No other investment will give these returns.

Minecache

legendary

Activity: 2184

Merit: 1024

Vave.com - Crypto Casino

Quote from: CryptSafe on May 18, 2023, 06:28:10 AM

Quote from: tjtonmoy on May 18, 2023, 06:04:53 AM

It's good to see that the community is growing at this speed. I used to think that price drops are bad things. But as I have learned in the past 2 bear markets, it's an opportunity. Many new will join and others will fill their bags in this bear markets. This is quite an achievement for Bitcoin community. And I think it is worth of celebrating. We still have a long way to go in order to reach global acceptance of Bitcoin. This achievement really shows us that we are going in the right direction. I think we won't have to wait that much as we have predicted.

A growth with speed is what we desire for bitcoin so as to get a wider and bigger community of bitcoin enthusiasts and believers. This is the ultimate goal for which we are here for.

Price drop for bitcoin is very much beneficial to all as it would usher in new investors who are ready and willing to purchase bitcoin in high volume and fractions as well. All are still part of the bitcoin holders irrespective of the volume being bought by them. So therefore, price drop in bitcoin and Crypto generally are not bad, it is right time to bag more if you can as long as the token or coin have a utility value or use case, that would give you a guide on coin or tokens to purchase.
Nevertheless, at this stage based on the percentage of the world population aware of bitcoin, it is just minuit compared to the total numbers of humans in the world itself which invariably means that bitcoin is still at its early adopters stage and this is no cause for alarm as we still have a long way to go in the bitcoin movement.

I don't think many people see the benefits of the bitcoin price drop or the bear market as something in our favor. Because as I observe most of the bitcoin price prediction topics, everyone wants bitcoin to continue to rise and recover quickly to 40k or 50k. Few expect the bear season to last or bitcoin to fall below $20k again. Or it looks like many people bought at a higher price, so most don't want to see bitcoin drop in price.

It's still the right time to buy bitcoin, but I don't think altcoins are a good option, I mean, I haven't seen any altcoins with a utility or use case. It's all just a cliché theory, no project has been put into practice yet, so don't believe what they advertise. Investing in altcoins is not bad, but it needs to be at the right time, now is not the time to believe in altcoins.

Although bitcoin is 14 years old, we are still in the early stages of this revolution, so don't miss this once-in-a-lifetime opportunity.

justdimin

hero member

Activity: 3164

Merit: 675

www.Crypto.Games: Multiple coins, multiple games

Quote from: tjtonmoy on May 19, 2023, 12:37:56 PM

Everything takes time and a proper approach towards its growth. Maybe months, years, decades, who knows? But once it has taken the pace, it will gradually start to grow more and move as we move towards the future. You cannot become a millionaire overnight, it will take time and effort in order to make that happen. Some goes with Bitcoin growth. We have seen in the past that Bitcoin has slowly but surely grown. As you have mentioned, like people used to say that no one will own one bitcoin in their wallet. Now see how much it has grown. And now the numbers are just going to go up. This is like once a thing start to grow, it will pick up the pace and nothing can stop it. Bitcoin is moving towards that direction for sure. Not everyone can afford to own 1 Bitcoin in their wallet, but the number of people owning Bitcoin will grow as we keep moving towards the future. The total number of people will increase, and the number will skyrocket. It's just gonna need some time.

I agree with this, this is why I am in favor of long term approach as always. While some people tried to tell me what some coin they held made them, I said I made a lot less with bitcoin and they mocked me, now most of them lost their money and they are crying over what they could have done, and yet I am doing fine and I do not worry about anything at all.

People could make their decisions based on what they are seeing currently and I understand that, shortsighted investments are a common thing and I get it, but I am not going to be doing anything like that, I am just going to consider the situation as normal and will not matter to me at all. I think the best thing to do in this case is to make sure that people end up with a good result while waiting long term.

Velemir Sava

member

Activity: 295

Merit: 28

Enterapp

Quote from: sokani on May 15, 2023, 04:04:12 PM

According to glassnode, the number of address holding atleast 1 BTC are now 1 million.

This Signs of power from the bulls round is coming!!

tjtonmoy

sr. member

Activity: 1008

Merit: 366

Quote from: justdimin on May 18, 2023, 01:40:50 PM

~snip

Everything takes time and a proper approach towards its growth. Maybe months, years, decades, who knows? But once it has taken the pace, it will gradually start to grow more and move as we move towards the future. You cannot become a millionaire overnight, it will take time and effort in order to make that happen. Some goes with Bitcoin growth. We have seen in the past that Bitcoin has slowly but surely grown. As you have mentioned, like people used to say that no one will own one bitcoin in their wallet. Now see how much it has grown. And now the numbers are just going to go up. This is like once a thing start to grow, it will pick up the pace and nothing can stop it. Bitcoin is moving towards that direction for sure. Not everyone can afford to own 1 Bitcoin in their wallet, but the number of people owning Bitcoin will grow as we keep moving towards the future. The total number of people will increase, and the number will skyrocket. It's just gonna need some time.

Flexystar

full member

Activity: 1092

Merit: 227

That’s good I never doubted bitcoin and bitcoiners holding it in their wallets. There might be many more than that who posses one full bitcoin because we have been through many years now and people are already filling up their wallets all the time.

There might thousands of them who are already on this forum. I mean most of the mixer participants and old campaign participants might have gone way beyond 2-3 bitcoins in their wallets already. Considering the fact that most of them might not have sold since 4-5 years in a row or they did DCA investment.

justdimin

hero member

Activity: 3164

Merit: 675

www.Crypto.Games: Multiple coins, multiple games

Quote from: tjtonmoy on May 18, 2023, 06:04:53 AM

It's good to see that the community is growing at this speed. I used to think that price drops are bad things. But as I have learned in the past 2 bear markets, it's an opportunity. Many new will join and others will fill their bags in this bear markets. This is quite an achievement for Bitcoin community. And I think it is worth of celebrating. We still have a long way to go in order to reach global acceptance of Bitcoin. This achievement really shows us that we are going in the right direction. I think we won't have to wait that much as we have predicted.

I understand that it is not going to be easy to handle this because it takes a long time for people to have this many people and reaching these levels are great because many people thought that we are not going to be growing. Some people may look at today and think that this was inevitable, but I remember clearly that 10 years ago people would use to say we would not even have a million people interested in it let alone have 1 bitcoin on their wallets.

I think it is important to remember that there are only 21 million bitcoins, or there will be, so at the very maximum we are going to see 21 million people have this, and we are already at 1 million mark, it is going to eventually cause the price to spike insanely high when the time comes.

Faisal2202

hero member

Activity: 1386

Merit: 513

Payment Gateway Allows Recurring Payments

Quote from: sokani on May 15, 2023, 04:04:12 PM

The last past weeks have been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of address holding atleast 1 BTC are now 1 million.

That's good news then, because mass adoption will help BTC to set a new ATH above $100k, As last time Elon sold most of his BTC holding when it crosses $60k. If 1 million people holds one btc means there are i million BTC are in holding and if all of them are newbies and reason behind holding these BTC are halving and selling them such as Elon has did then i it will effect the price but i do know this is not that much supply to effect it but, at least if all of those 1 million holders have a mind set to sell there BTC above $100k then i think BTC will succeed to go above it.

Quote from: tabas on May 15, 2023, 06:54:38 PM

It doesn't matter to me how many of those belong to one owner.

i think there is no bad in holding these tokens because this will decrease the circulation supply and demand is increasing too, so it is a good factor in halving of BTC to cross $100k. All i afraid, what if those newbies fall prey to market sentiments or greed and sold there holdings too soon even before starting of bullish cycle. Well, its there money they could do anything with it.

CryptSafe

sr. member

Activity: 728

Merit: 421

Quote from: tjtonmoy on May 18, 2023, 06:04:53 AM

It's good to see that the community is growing at this speed. I used to think that price drops are bad things. But as I have learned in the past 2 bear markets, it's an opportunity. Many new will join and others will fill their bags in this bear markets. This is quite an achievement for Bitcoin community. And I think it is worth of celebrating. We still have a long way to go in order to reach global acceptance of Bitcoin. This achievement really shows us that we are going in the right direction. I think we won't have to wait that much as we have predicted.

A growth with speed is what we desire for bitcoin so as to get a wider and bigger community of bitcoin enthusiasts and believers. This is the ultimate goal for which we are here for.

Price drop for bitcoin is very much beneficial to all as it would usher in new investors who are ready and willing to purchase bitcoin in high volume and fractions as well. All are still part of the bitcoin holders irrespective of the volume being bought by them. So therefore, price drop in bitcoin and Crypto generally are not bad, it is right time to bag more if you can as long as the token or coin have a utility value or use case, that would give you a guide on coin or tokens to purchase.
Nevertheless, at this stage based on the percentage of the world population aware of bitcoin, it is just minuit compared to the total numbers of humans in the world itself which invariably means that bitcoin is still at its early adopters stage and this is no cause for alarm as we still have a long way to go in the bitcoin movement.

tjtonmoy

sr. member

Activity: 1008

Merit: 366

It's good to see that the community is growing at this speed. I used to think that price drops are bad things. But as I have learned in the past 2 bear markets, it's an opportunity. Many new will join and others will fill their bags in this bear markets. This is quite an achievement for Bitcoin community. And I think it is worth of celebrating. We still have a long way to go in order to reach global acceptance of Bitcoin. This achievement really shows us that we are going in the right direction. I think we won't have to wait that much as we have predicted.

Captain Corporate

hero member

Activity: 2156

Merit: 575

So sweet, I hope that it grows bigger. I think even bigger information would be amount of addresses that hold bitcoin, that is also considered but there are ways to just put in a few satoshi in millions of addresses if you want so that is always a confusing one. So I would guess like at least 100$ in a wallet, if that could be counted that would be lovely and yes in there we would see exchanges and people with multiple wallets as well but atl east we would see the number increasing. The more people who are interested in bitcoin the better. We should be seeing more and more people getting interested in bitcoin so that we could continue to actually mean something, otherwise its not going to be good at all, we need to constantly grow to mean something.

irhact

hero member

Activity: 616

Merit: 749

Quote from: royalfestus on May 15, 2023, 04:25:49 PM

The increasing number of wallets holding at least one Bitcoin is a clear indication that Bitcoin adoption is on the rise, and more individuals are showing interest in owning and utilizing it. As a result, it's probable that the demand for Bitcoin will increase, which could lead to a gradual increase in its value over time. Nonetheless, it's worth noting that Bitcoin is a highly volatile asset, and its value is susceptible to significant fluctuations in response to market conditions

There's no way for those addresses to be verified of not been manipulated, bitcoin whales know that people are closely monitoring the progress of address holding the least 1 Bitcoin so what if they're increasing the number by splitting their Bitcoin between different addresses. This doesn't indicate that Bitcoin adoption is rising. Adoption should be about Bitcoin been used and not stored.

Congratulations to bitcoin for achieving this milestone but we should not think this milestone of wallet holding more than one Bitcoin is the same thing as Bitcoin been used. For Bitcoin to be celebrated of gaining adoption, we need more stores and companies accepting it.

noorman0

hero member

Activity: 1778

Merit: 709

[Nope]No hype delivers more than hope

Quote from: royalfestus on May 15, 2023, 04:25:49 PM

The increasing number of wallets holding at least one Bitcoin is a clear indication that Bitcoin adoption is on the rise,

Measuring increase in adoption this way is not ideal, it does not represent the true number of owners. One can split bitcoin ownership down to the smallest fraction of units, that means max is 2.1*10^15 addresses.
If centralized exchanges never swept users' bitcoins to 1 hot address, perhaps this achievement would have been announced by the media long ago (if they didn't have other, fancier news ideas).

raumonds

newbie

Activity: 34

Merit: 0

Looks like Bitcoin is reaching new heights, despite those pesky transaction fees. 1 million addresses holding at least 1 BTC? That's some serious hodling power.

Plaguedeath

hero member

Activity: 854

Merit: 663

Quote from: Jet Cash on May 16, 2023, 02:20:22 AM

I think I would prefer to see smaller holdings spread more widely.

Bitcoin is for everyone, but everyone can't own Bitcoin.

There are around 8 Billion of world populations [1], assuming Bitcoin have been mined all, 21 Million Bitcoin/8 Billion peoples means every person only hold 0.002625 BTC or worth for $70. It's really small, I don't think every person are enough to hold such amount.

I think if every person holding 1 Bitcoin is already widely spread.

[1] https://www.worldometers.info/world-population/

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

But we still don't know who owns all those wallets and can only know that each wallet has 1 BTC. But it seems that it would be strange to see that many wallets only contain 1 BTC because usually, people keep varying amounts of BTC and not 1 BTC.

But let's just let those who have saved 1 BTC in that wallet because the most important thing is that we also have to think about ourselves and try to keep accumulating lots of BTC. And we also know that investing in BTC is a good way to get big profits in the future even though the price hasn't gone up high now and even tends to stay low now.

crunck

legendary

Activity: 1176

Merit: 1005

crunck

To me, increasing the number of wallet addresses doesn't make much sense since one person has ownership of hundreds of different wallets. But with the increasing acceptance of bitcoin by more stores and more countries around the world, that interests me more. That proves the demand for bitcoin is really strong, so the price increase will only be a matter of time when supply exceeds demand.

Fundamentals Of

sr. member

Activity: 2380

Merit: 366

Although the increase in addresses doesn't necessarily mean an increase in Bitcoin supporters or adopters, I'm sure there is also growth there. Of course 1 million addresses holding 1 Bitcoin is not equal to saying there are already 1 million people owning 1 Bitcoin. But I'm pretty sure that there are more people holding 1 Bitcoin now than in the past month, week, or even yesterday. Adoption is growing and one way of knowing it is knowing that every single day a new person learns Bitcoin, generates an address, and buys.

LittleBitFunny

full member

Activity: 1414

Merit: 129

The first decentralized crypto betting platform

Quote from: BenCodie on May 17, 2023, 08:39:39 AM

Quote from: royalfestus on May 15, 2023, 04:25:49 PM

The increasing number of wallets holding at least one Bitcoin is a clear indication that Bitcoin adoption is on the rise, and more individuals are showing interest in owning and utilizing it. As a result, it's probable that the demand for Bitcoin will increase, which could lead to a gradual increase in its value over time. Nonetheless, it's worth noting that Bitcoin is a highly volatile asset, and its value is susceptible to significant fluctuations in response to market conditions

One million addresses holding 1 Bitcoin does not mean that there are 1,000,000 different individuals holding Bitcoin. Miners, billionaires and first-generation holders who have invested some time into distributing their coins into more than one address could very well control a large portion of these addresses, and have hidden them into smaller amounts to prevent the wider ecosystem from seeing such a strain of power into select few people. I'd say that this is much more likely than 250,000 of these addresses belonging to different individuals.

What you say is not wrong, this 1 million wallet is insufficient to prove the increasing use of bitcoin. This is just a metric for reference, and it doesn't have any meaning regarding bitcoin acceptance, as many people can also hold many wallets. I myself am also using two wallets to store bitcoins for different needs.

But we don't need that metric, just seeing with the naked eye what's going on, there's no denying that bitcoin is becoming increasingly popular and of interest to more people. Along with the economic crisis, inflation, and bank collapse... all are positively impacting the increase in popularity of bitcoin worldwide.

tbct_mt2

hero member

Activity: 2366

Merit: 838

Quote from: kryptqnick on May 17, 2023, 09:40:14 AM

That sounds like a nice achievement in distribution of coins, and I hope we'll see even better distribution in the future. The op acknowledged that some addresses can hold funds of many people and some people can have several wallets, and with that, I still think it's largely not pointless info.

Bitcoin will be distributed to more people but not all of them will become Bitcoin holders. They will buy it, sell it or if they feel disappointed, they will exit this market forever. Fortunately, coins won't disappear to the air and will be changed from sellers to buyers. If there are people who exit this market forever, there will be opposite people who will become diamond hand holders.

Some bitcoins will be lost by people who lose their private keys and it is painful for people who lose their bitcoins but it is great present for other holders. It will help Bitcoin has less supply and makes its price higher.

Quote from: BenCodie on May 17, 2023, 08:39:39 AM

One million addresses holding 1 Bitcoin does not mean that there are 1,000,000 different individuals holding Bitcoin.

Addresses, wallets and holders are different and we can not identify holders exactly with on-chain data.

Diversifying our bitcoins into different wallets, different addresses and devices are best ways to avoid losing all of our coins. We should not think we will never be hacked.

kryptqnick

legendary

Activity: 3248

Merit: 1402

Join the world-leading crypto sportsbook NOW!

That sounds like a nice achievement in distribution of coins, and I hope we'll see even better distribution in the future. The op acknowledged that some addresses can hold funds of many people and some people can have several wallets, and with that, I still think it's largely not pointless info.
As for the past few weeks and the fees, I think it's really great that Bitcoin bounced back pretty fast, and while the fees are still not low, they are reasonable and can be expected to fall even more. It's been two years since the last fee spike, and that one was way worse. I'm okay with such occasional situations, and grateful that they are rare and temporary.

Luzin

hero member

Activity: 1400

Merit: 770

Quote from: Crypt0Gore on May 17, 2023, 09:02:01 AM

I won't be surprised if many of those addresses belong to a company, a whale, or an entity, they might decide to separate the Bitcoin instead of leaving them in a single address, and if they can handle the safety of the private keys, this is a good safer plan for holding Bitcoin.

It seems that you are sure of the owner of that address. Maybe yes and no. Only a few companies clearly store Bitcoin and if calculated it is no more than 1 million BTC. So I think there are many owners besides the company. The happy thing is, if they hold back then they have done a good act. They reduce the circulating supply. The hope is that they will always hold back and continue to give confidence that BTC is a good asset to invest. So that the price of BTC will increase and have great confidence in its value.

Crypt0Gore

sr. member

Activity: 952

Merit: 275

That's good news, more adoption rate than what we have seen in the past years, bravo, the future looks promising for crypto adoption, but there is no way to know that those addresses belong to 1 million different people, I mean 1 address per one person, there is simply nothing to prove this because people don't trust a wallet address for too long, whales are now smarter since they heard about untouched Bitcoin wallet address getting stolen by hackers and bad actors, now they are very careful.

I won't be surprised if many of those addresses belong to a company, a whale, or an entity, they might decide to separate the Bitcoin instead of leaving them in a single address, and if they can handle the safety of the private keys, this is a good safer plan for holding Bitcoin.

BenCodie

legendary

Activity: 1666

Merit: 1037

Quote from: royalfestus on May 15, 2023, 04:25:49 PM

The increasing number of wallets holding at least one Bitcoin is a clear indication that Bitcoin adoption is on the rise, and more individuals are showing interest in owning and utilizing it. As a result, it's probable that the demand for Bitcoin will increase, which could lead to a gradual increase in its value over time. Nonetheless, it's worth noting that Bitcoin is a highly volatile asset, and its value is susceptible to significant fluctuations in response to market conditions

One million addresses holding 1 Bitcoin does not mean that there are 1,000,000 different individuals holding Bitcoin. Miners, billionaires and first-generation holders who have invested some time into distributing their coins into more than one address could very well control a large portion of these addresses, and have hidden them into smaller amounts to prevent the wider ecosystem from seeing such a strain of power into select few people. I'd say that this is much more likely than 250,000 of these addresses belonging to different individuals.

Gallar

sr. member

Activity: 812

Merit: 365

Quote from: sokani on May 15, 2023, 04:04:12 PM

The last past weeks have been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of address holding atleast 1 BTC are now 1 million.

~

It's a very good and extraordinary achievement. Because there are at least a million wallets, and each of those wallets contains one bitcoin. I personally think owning one bitcoin is something that is very proud of and certainly wanted by all bitcoin investors. But because the price is expensive, it's quite difficult and it takes quite a long time to be able to buy one bitcoin. However, with this kind of news, I am increasingly convinced that bitcoin does have a positive and significant development towards mass adoption. So it is very likely that the halving will occur at the end of next year, I think it will increase the popularity of bitcoin, the price value will also be higher, and will certainly attract people's interest to invest in bitcoin. Because currently bitcoin/crypto users, when viewed from various sources, are still in small numbers.

Quote

Blockchain company, TripleA, released the latest data on the level of ownership of global crypto assets. The data estimates that the level of ownership of crypto assets globally is only 4.2% with more than 420 million crypto users in the world.

Source: https://coinvestasi.com/berita/projection-investor-kripto-dunia-dunia

And while the human population on earth today is around 8,005,176,000 souls. So bitcoin/crypto still has a long way to go for overall adoption. Even so, I'm sure that every year, there will always be positive developments in bitcoin and crypto in general.

retreat

sr. member

Activity: 1106

Merit: 391

Quote from: sokani on May 15, 2023, 04:04:12 PM

The last past weeks have been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of address holding atleast 1 BTC are now 1 million. According to the report, last year when the market took a deep dive, a good number of persons were wise enough to grab some bags. Although, some addresses belong to crypto exchanges and some persons might have more than one wallet address but this milestone achievement is worth celebrating.

Source: https://cryptoslate.com/insights/a-new-milestone-1m-addresses-hold-1-bitcoin/

This is quite an amazing milestone of Bitcoin adoption even though many are skeptical and discredit Bitcoin but it still remains popular and more and more people start increasing their investment. I think that if Bitcoin adoption can continue like this, it will not rule out that Bitcoin will become a very popular digital asset in the future and there will be more people adopting it in their daily transactions.

aoluain

legendary

Activity: 2436

Merit: 1362

I'm sure there is a graph somewhere, and I think I've seen it before of the breakdown of
addresses with their Bitcoin amount, i.e 1000BTC, 500BTC, 100BTC, 50BTC and including
less than 1BTC number if addresses, no matter which way we look at it the numbers just
highlight the scarcity of Bitcoin.

DaveF

legendary

Activity: 3500

Merit: 6320

Crypto Swap Exchange

Going with as others have said it's pointless info.
Without knowing how many different people control those addresses it's just a data point without real meaning.

Kind of like saying there are 1 million accounts in this bank with more then $25000
Are there 1 million different people or did some mega corporation decide to separate a few multi million dollar accounts into smaller separate ones for some reason.

But, it makes a good click-bait headline.

-Dave

Jet Cash

legendary

Activity: 2814

Merit: 2472

https://JetCash.com

I think I would prefer to see smaller holdings spread more widely.

ancafe

hero member

Activity: 1778

Merit: 746

Quote from: sokani on May 15, 2023, 04:04:12 PM

The last past weeks have been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of address holding atleast 1 BTC are now 1 million. According to the report, last year when the market took a deep dive, a good number of persons were wise enough to grab some bags. Although, some addresses belong to crypto exchanges and some persons might have more than one wallet address but this milestone achievement is worth celebrating.

This indicates a growing trust in bitcoin and if 1 million wallets are held by 1 million people, then it is possible that it could double that for the next year as people become more aware of the advantages of bitcoin. These numbers are not the real deal, but the increase in bitcoin adoption is certainly growing rapidly and indicates that the public is aware of how to use bitcoin now and in the future.

Fluctuating prices still place bitcoin as a valuable asset and people tend to start to realize about the store of value in the long term, so the increase in wallets also indicates that more people are holding bitcoin in the long term as an option for investment.

bussybuddy

full member

Activity: 1190

Merit: 105

PredX - AI-Powered Prediction Market

I don't understand the purpose of these statistics as I find it may reflect the increase in wallet addresses but also does not completely reflect the number of people interested in bitcoin.
Like many people who use bitcoin I think they will also store bitcoins on different addresses, but on a positive note, bitcoin's popularity and interest over time I see it growing and this is completely undeniable.

Onset

jr. member

Activity: 56

Merit: 26

Quote from: sokani on May 15, 2023, 11:29:08 PM

The bull season is a period where some old holders would be exiting their positions by selling their bitcoin while new holders would buy the bitcoin thereby retaking their positions. During the 2017 bull season, there were over 500,000 addresses with atleast 1 million Bitcoin but this figure has increased over the years.

But what if that’s not necessarily the case? Over the years, there’s one more figure that had an impressive increase and it’s the price. With it comes an increased fear of not having a wallet secure enough as well, so what if a lot of this increase in addresses holding 1 Bitcoin comes from an attempt at having a better security overall?

Poker Player

legendary

Activity: 1372

Merit: 2017

It is an eye-catching round figure, but nothing more. We do not know, as has been mentioned, if several of these addresses belong to the same person.

What we do know is that even once they are all mined, there will not be enough Bitcoins for all the millionaires, so having fractions of Bitcoin when it is widely adopted will have a lot of value. By then, addresses with 0.1 Bitcoin or even 0.01 Bitcoin will attract attention, as a whole Bitcoin will be prohibitively expensive.

sokani

sr. member

Activity: 658

Merit: 441

Quote from: hatshepsut93 on May 15, 2023, 06:43:57 PM

Your title says "addresses" and you post says "wallets", so which is it?

Thank you chief, I've effected the correction.

Quote from: michellee on May 15, 2023, 09:25:14 PM

If those 1M wallets come from 1M different people, that's certainly good progress because adoption has reached 1M people. But we don't know if it's real 1M people or just wallets owned by some people trying to store 1 BTC in multiple wallets.

It was clearly stated that some of those addresses might belong to crypto exchanges while some might belong to individuals with multiple addresses.

Quote from: Nwada001 on May 15, 2023, 05:55:55 PM

in every bullish and bearish market, there is always a change of ownership among Bitcoin holders. Most people see the bull run as an opportunity to sell off all their holdings, which is why there will always be others willing to buy and bag up more.

The bull season is a period where some old holders would be exiting their positions by selling their bitcoin while new holders would buy the bitcoin thereby retaking their positions. During the 2017 bull season, there were over 500,000 addresses with atleast 1 million Bitcoin but this figure has increased over the years.

michellee

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

If those 1M wallets come from 1M different people, that's certainly good progress because adoption has reached 1M people. But we don't know if it's real 1M people or just wallets owned by some people trying to store 1 BTC in multiple wallets.

We know that each person can have more than one bitcoin wallet so the number of 1M wallets needs to be clarified again. And I guess they can't prove it because anyone with 1 BTC in their wallet won't want to admit it.

But I think the progress of crypto adoption is going in a good direction even though the current market situation may not yet show a significant recovery. But there will come a time so we have to be patient.

BALIK

copper member

Activity: 2254

Merit: 608

🍓 BALIK Never DM First

This proves that bitcoin is growing, and no one can stop it. Recently, there have been several theories about what will happen if bitcoin fails to reach its ATH after the halving, and with this news, it has cleared many people's doubts. Even if history doesn't repeat itself, we don't need to worry because as long as the demand for bitcoin is growing every day, demand exceeds supply, it's only a matter of time before bitcoin hits the new ATH. Our remaining task is to try to get on the list of owning 1 BTC.

peter0425

sr. member

Activity: 2618

Merit: 439

Quote from: sokani on May 15, 2023, 04:04:12 PM

The last past weeks has been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of wallets holding atleast 1 BTC are now 1 million. According to the report, last year when the market took a deep dive, a good number of persons were wise enough to grab some bags. Although, some wallets belong to crypto exchanges and some persons might have more than one wallet address but this milestone achievement is worth celebrating.

Source: https://cryptoslate.com/insights/a-new-milestone-1m-addresses-hold-1-bitcoin/

While the objective of the thread is to boost Bitcoin holders and believers but the reality is not commenting to its situation .

I would love knowing the reality if people of a million holds each a bitcoin , and not addresses or wallet that can be owned by fewer than the counts.
because there is millions of bitcoin circulated and there are also dozens/hundreds or even thousands of whales that can hold multiple of those wallets .

but at least thanks for sharing as this would be lovely to read for all of us bitcoin lovers.

tread93

hero member

Activity: 1344

Merit: 583

Quote from: sokani on May 15, 2023, 04:04:12 PM

The last past weeks has been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of wallets holding atleast 1 BTC are now 1 million. According to the report, last year when the market took a deep dive, a good number of persons were wise enough to grab some bags. Although, some wallets belong to crypto exchanges and some persons might have more than one wallet address but this milestone achievement is worth celebrating.

Source: https://cryptoslate.com/insights/a-new-milestone-1m-addresses-hold-1-bitcoin/

Huge milestone for the bitcoin ecosystem, that is one way to show that more and more people are becoming more and more confident in the network. 1 Bitcoin is not a small amount of money for most people, but I think that is even a testament. For 1 Million people to be HODLing 1 BTC, for most that is like their life savings. They are literally holding onto that bag for dear life and I think that speaks volumes.

digaran

copper member

Activity: 1330

Merit: 899

🖤😏

Great! Now all the thieves around these particular woods will have 1 million extra high value addresses to put into their input files to keep grinding fruitlessly for many years to come.😄

CryptSafe

sr. member

Activity: 728

Merit: 421

Quote from: sokani on May 15, 2023, 04:04:12 PM

The last past weeks has been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of wallets holding atleast 1 BTC are now 1 million. According to the report, last year when the market took a deep dive, a good number of persons were wise enough to grab some bags. Although, some wallets belong to crypto exchanges and some persons might have more than one wallet address but this milestone achievement is worth celebrating.

Source: https://cryptoslate.com/insights/a-new-milestone-1m-addresses-hold-1-bitcoin/

Possibly, the rise in bitcoin holders is rapidly increasing and i can make bold to say that Bitcoin is the new digital gold existing. As the day passes by, lots of people are beginning to see the importance and need of holding bitcoin. I would not be surprised if the holders of bitcoin surpasses this very number stated here but i believe it would definitely be more than that in the nearest future as the case maybe, there have been series of holders whos bitcoin holdings are very much little but in the future, it would develop a bit-better than as it is now even much better.

Onset

jr. member

Activity: 56

Merit: 26

It’s rather interesting how readers react to this.. maybe even more interesting than the news itself. Very fascinating that nowadays 1 Bitcoin’s such a far away dream when back in the day nobody would of even considered paying a dime for it.

Maybe only a handful of people hold a significant part of these addresses. Maybe not. Nonetheless, it’s still a somewhat interesting milestone even if it can be easily cheated.

Similificator

sr. member

Activity: 882

Merit: 403

Regardless of the number of people owning multiple wallets that have 1 or more Bitcoins within them, I think that this is still a good thing for Bitcoin. I mean, it wouldn't make sense for that number to increase if mass adoption itself isn't increasing. One person doesn't need too many wallets even if they have the habit of moving or spreading their Bitcoin possessions. I'd say that most people like that wouldn't need more than 30 wallets that they would actively use. And the number of people who would need more wallets than that are probably quite few. I believe that the number of wallets having at least one bitcoin will keep on increasing with time, especially on bull run seasons.

BlackBoss_

sr. member

Activity: 602

Merit: 387

Rollbit is for you. Take $RLB token!

Quote from: bitterguy28 on May 15, 2023, 07:43:22 PM

That is the sad part about that , in which we are not sure that if those 1 million wallets are truly owned by each person or there are multiple of those are handled by one person , though the milestone is achieved and we must look in to the good side of this .

It is part of a truth and they did not hide the truth. They even are not able to identify what are addresses belong to one owner. Addresses can be connected that they belong to one wallet if they have transactions in history that help explorers to connect those addresses.

I agree with you that the writer should have a note about it and without note, it is like they intentionally hide the truth but we can not exclude possibility that the writer even does not know about this technical thing.

You can use LookintoBitcoin.com with some charts for addresses with balance > x+ amount BTC
https://www.lookintobitcoin.com/charts/addresses-greater-than-0-1-btc/

bitterguy28

full member

Activity: 2170

Merit: 182

“FRX: Ferocious Alpha”

Quote from: sokani on May 15, 2023, 04:04:12 PM

The last past weeks has been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of wallets holding atleast 1 BTC are now 1 million. According to the report, last year when the market took a deep dive, a good number of persons were wise enough to grab some bags.

there is completely true about people are taking the advantage of buying once there is a bear market,
as we have seen this happened many times before because of Buying Low selling high .

Quote

Although, some wallets belong to crypto exchanges and some persons might have more than one wallet address but this milestone achievement is worth celebrating.

Source: https://cryptoslate.com/insights/a-new-milestone-1m-addresses-hold-1-bitcoin/

That is the sad part about that , in which we are not sure that if those 1 million wallets are truly owned by each person or there are multiple of those are handled by one person , though the milestone is achieved and we must look in to the good side of this .

Sarah Azhari

hero member

Activity: 868

Merit: 737

Quote from: sokani on May 15, 2023, 04:04:12 PM

According to glassnode, the number of wallets holding atleast 1 BTC are now 1 million. According to the report,

That is good news, this means Bitcoin users continue to rise every day and strengthen the system. And, I hear not only 1 BTC but, another nominal like 0.1 BTC also rise in every day, from 1 million in 2019 to 3 Million in 2023. I think people around the world is understood very much the function and how they take advantage of the investment. Bitcoin is one of the strongest investments than other instruments, like stock, and gold. That probably will rise with the new user, especially at the same time with a halving moment where Bitcoin always hype, and will appear frequently on in every news.

tabas

hero member

Activity: 3024

Merit: 745

Top Crypto Casino

It doesn't matter to me how many of those belong to one owner. The important thing I guess is we see that there's 1M wallets that have been filled with 1 BTC and all of them are holding. While it's estimated that satoshi has got 1M supply and that will never be recovered. We can think of how many of these are no longer in circulation while these 1 btc's that are in these wallets, this only simplifies that many have been taking care even of themselves and hold at least even 1 btc.

hatshepsut93

legendary

Activity: 3024

Merit: 2148

Quote from: sokani on May 15, 2023, 04:04:12 PM

The last past weeks has been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of wallets holding atleast 1 BTC are now 1 million.

Your title says "addresses" and you post says "wallets", so which is it? I have a wallet with over 1 BTC, yet my coins are spread across multiple addresses, so I don't have a single address with >1 BTC. I probably never had such address, even in the earlier days, when the price was lower, because back then I was moving my coins a lot.

Also, the addresses with >1 BTC could belong not to single users, but to organizations that hold someone else's coins.

Nwada001

hero member

Activity: 700

Merit: 673

Indeed, this is worth celebrating; in every bullish and bearish market, there is always a change of ownership among Bitcoin holders. Most people see the bull run as an opportunity to sell off all their holdings, which is why there will always be others willing to buy and bag up more. This 1 million address holds at least 1 bitcoin. There could still be possible holders out there whose holdings are not being recorded because they might be holding their coins on a centralized platform where all their holdings are recorded as part of the exchange's own until they withdraw them to their personal wallet. I believe after the halving, we might as well see an increase in the amount of wallets holding more, even above 1 bitcoin.

Vaskiy

legendary

Activity: 2646

Merit: 1106

DGbet.fun - Crypto Sportsbook

Thats a big number. Having one bitcoin is really big thing. It can be considered as investment, holding or whatever. For what they've achieved during the years we can expect more people getting aware of it. When the holding increases we can experience the increase in the adoption. This gives the common holders to stay positive and make use of each and every opportunity. Majority of the wallet owners seems to be between 25 and 40 years of age.

Quite often we were able to experience the changes happening in the market out of the volatility. Some state that the price will stabilize beyond certain point, in real-time it is highly impossible as the demand to supply market continues on its track.

royalfestus

hero member

Activity: 2464

Merit: 519

The increasing number of wallets holding at least one Bitcoin is a clear indication that Bitcoin adoption is on the rise, and more individuals are showing interest in owning and utilizing it. As a result, it's probable that the demand for Bitcoin will increase, which could lead to a gradual increase in its value over time. Nonetheless, it's worth noting that Bitcoin is a highly volatile asset, and its value is susceptible to significant fluctuations in response to market conditions

sokani

sr. member

Activity: 658

Merit: 441

The last past weeks have been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of address holding atleast 1 BTC are now 1 million. According to the report, last year when the market took a deep dive, a good number of persons were wise enough to grab some bags. Although, some addresses belong to crypto exchanges and some persons might have more than one wallet address but this milestone achievement is worth celebrating.

Source: https://cryptoslate.com/insights/a-new-milestone-1m-addresses-hold-1-bitcoin/

Topic: A new milestone: 1M addresses hold 1 Bitcoin (Read 520 times)