Bitcoin adoption: milestone of million wallets with 1+ BTC very close

“Wholecoiners” is the name for wallets with a full bitcoin (BTC) or more. This number is increasing every year and has gained momentum in recent times. Data from Lookintobitcoin shows that we are currently on a new one all time high and very close to a special milestone.

1 million wallets with at least 1 BTC

According to Lookintobitcoin, there are currently 993,787 wallets containing at least 1 BTC. This puts us just over 6 thousand wallets away from the magical limit of 1 million wholecoiners.

Since the start of 2022, this number has exploded, which is a nice illustration of Bitcoin adoption. This increase coincided with the persistent bear market in which the bitcoin price has performed anything but great.

However, there is a clear explanation for the enormous growth in the number of wallets with at least 1 BTC. In 2022, the value of self custody namely increasingly penetrated by crypto investors. The failure of large companies in the sector such as Celsius, Voyager and FTX has led to a massive outflow from crypto exchanges. Investors take matters into their own hands and make trust in a third party unnecessary.

More than 46 million bitcoin holders

At the same time, the total amount of BTC holders rose at its fastest pace since early 2021, when bitcoin’s price crossed $64,000 for the first time. Data from crypto analytics platform Santiment shows that the total number of addresses with an amount of BTC has reached 46.16 million in recent days. The increase is comparable to that of the period between January and April 2021, despite the fact that the price is currently 55% lower than at the time.

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Bitcoin HODL mode

A while ago you could already read in the Bitcoin news that more than 15 million bitcoins have been on the blockchain at the same address for more than 6 months. This is equivalent to about 78% of all BTC currently in circulation. This number is currently only increasing, implying that bitcoin is increasingly seen as an attractive way to save.

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