Is Bitcoin Really Dead? Wallets holding at least 1 BTC approach historic low

Is Bitcoin Really Dead? Wallets holding at least 1 BTC approach historic low

JVTech News Is Bitcoin Really Dead? Wallets holding at least 1 BTC approach historic low

While a succession of events has stirred the crypto sector lately, it’s time to take stock. Surprisingly, it seems that this year’s ups and downs have had no more impact on the accumulation of Bitcoin than that. Indeed, the number of addresses holding at least one Bitcoin continues to grow.

Bitcoin addresses holding at least 1 BTC are approaching a large number

The fall of the FTX platform coupled with an overall drop in the value of the cryptocurrency market does not scare investors. Despite the turbulence experienced by the ecosystem, the first cryptocurrency continues to gain followers.

Indeed, the number of known addresses with at least 1 BTC has reached a new all-time high. According to data from Bitcoin Rich List, the number of wallets containing 1 Bitcoin is approaching one million. Precisely, after 14 years of existence, the first cryptocurrency has managed to register more than 962,000 wallets holding at least 1 Bitcoin.

Despite this spectacular rise, it is important to remember that behind each address, there is not necessarily an individual hiding. As an example, Satoshi, the creator of Bitcoin, himself has several hundred addresses holding more than one Bitcoin.

A paradoxically favorable context for the acquisition of Bitcoin

Although the crypto sector is in the grip of a difficult situation following numerous episodes of crisis such as Terra Luna or FTX, the situation is not felt on this kind of data. Against all odds, Bitcoin continues to convince new buyers. This is mainly due to the current price of cryptocurrency.

After reaching €54,000 in October 2021, Bitcoin gradually fell, until it reached €16,000 in December 2022. So today, when some see the umpteenth death of Bitcoin, others consider this are the balances. Also, for the more maniacs, it is now easier to obtain a unit of this famous Bitcoin.

On the other hand, a bitcoin at €16,000 is not within the reach of all budgets. Nevertheless, smaller BTC holders are also part of this trend. Wallets holding between 0.00001 and 1 BTC number 42 million.

In short, the desirability of Bitcoin increases, while its price decreases. All this in the hope of extracting some added value during a potential next up cycle. Concretely, over time, cryptocurrency seems to convince more and more users to take the plunge, despite the less reassuring episodes of recent times.

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