Bitcoin has reached a major milestone as the number of addresses holding more than 1 BTC has exceeded 1 million, marking a notable achievement in the Bitcoin ecosystem.
IntoTheBlock highlighted this milestone in a chart illustrating the growing trend of individuals and institutions accumulating Bitcoin to achieve Wholecoiner status.
This chart shows the number of addresses holding more than 1 Bitcoin.
🪙There are currently over 1 million wholecoiners
📈There is a clear long-term trend, as more and more people aim to achieve wholecoiner status. pic.twitter.com/QrZgbRGgc7
— IntoTheBlock (@intotheblock) June 27, 2024
The term “wholecoiner” refers to anyone who holds at least 1 Bitcoin, a status that is increasingly sought after by investors. The data shows a clear long-term trend: more and more people are striving to become Wholecoiners.
This trend reflects broader acceptance and confidence in Bitcoin as a store of value and investment asset. The growing number of Wholecoiners is a testament to the increasingly strong belief in Bitcoin’s long-term growth and stability potential.
IntoTheBlock analysis indicates that this uptrend is not a short-term phenomenon but a sustained movement. Over the years, as Bitcoin has matured, the number of addresses holding at least one BTC has steadily increased.
The achievement of over 1 million Wholecoiners is especially meaningful in the context of Bitcoin’s limited supply. With only 21 million BTC, holding even 1 Bitcoin is increasingly valuable as demand continues to increase. This scarcity factor further emphasizes the importance of the wholecoiner milestone.
Bitcoin has fallen about 17% since hitting an all-time high of nearly $74,000 in mid-March on growing optimism about the approval of spot Bitcoin ETFs.
At the time of writing, Bitcoin was up 0.04% in the previous 24 hours to $61,592. Adding to the gloom in markets is shifting expectations of a U.S. interest rate cut, which has reduced demand for the riskiest assets.
Source: TradingView
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