According to data from Bitcoin Pro MagazineThere are 1,012,650 Bitcoin addresses containing 1 BTC or more.
This represents over 1 million bitcoins that have been taken off the market and are now in the hands of powerful individuals, a significant portion of the 21 million bitcoins that will ever exist. Demand continues to rise, with U.S.-based bitcoin exchange-traded funds holding over 901,000 bitcoins, while MicroStrategy, a major bitcoin holding company, holds 226,500 bitcoins. Additionally, MicroStrategy plans to raise $2 billion to buy more bitcoins, further underscoring the trend of institutions buying and holding large amounts of bitcoins, which is tightening the available supply as demand increases.
The number of Bitcoin addresses holding 1 or more Bitcoin has historically lagged behind the price of Bitcoin. However, in the past two years, this trend has reversed, with the number of these addresses growing faster than the price of Bitcoin. This shift indicates growing adoption and reflects growing confidence in Bitcoin over the long term, as more users accumulate and hold large amounts of Bitcoin.
The rise in the number of addresses holding 1 BTC or more indicates that individual and institutional investors are actively accumulating Bitcoin. With only 21 million BTC being mined, and around 19 million already in circulation, demand for Bitcoin appears to be growing as users aim to secure their share of the limited supply.
For more detailed information, insights and to register for access to Bitcoin Magazine Pro data and analysis, visit the official website. here.
Comments are closed, but trackbacks and pingbacks are open.