Many people are still convinced that we are in a bear market. Many crypto investors were deeply in loss last year due to the ever-declining prices. In the first weeks of 2023, many prices, including that of bitcoin (BTC), rose sharply again, which means that a large group of bitcoin millionaires has been added. This is evidenced by data from BitInfoCharts.com.
Number of Bitcoin millionaires has grown sharply
At the moment there are 67,598 BTC addresses worth more than $1 million. That is considerably more than at the beginning of this month, on January 5 there were only 24,279. In the meantime, the price of bitcoin has risen sharply, by a whopping 37% to be exact.
From dates of CoinMetrics it turns out that this number literally increased sharply in a single day, namely from 13 to 14 January. Before and after that, the number of wallet addresses with over $1 million in BTC is flatly unchanging. This is therefore an increase of 178% in a very short time.
Moreover, this increase is mainly limited to addresses with $ 1 million to $ 10 million. The number of addresses with $ 100,000 to $ 1 million has increased by only 28.9% to 281,743. That is less than the increase in price, which means that there are now fewer whales with this specific amount.
Wnot buying hales yet?
The number of BTC addresses with more than $10 million has grown by 29.6% to 4,932. At the same time, the number of addresses measured in 100,000 bitcoins or more has not grown, which is reflected in the growth rate mentioned above.
The bitcoin addresses with smaller amounts also show an even smaller growth. The number of addresses with between USD 1,000 and USD 10,000 in Bitcoin has increased by only 16%, meaning that investors in this category would rather sell their cryptocurrencies than keep HODLing.