Bitcoin creates 1,500 millionaires in one day!

Generates the current rise in Bitcoin (BTC) Around 1,500 new “millionaire wallets” per day. This revelation comes from Kaiko Research, indicating a major shift in wealth within the cryptocurrency ecosystem.

These millionaire wallets are digital addresses on the Bitcoin blockchain, where huge amounts of digital currencies are stored. If the transparency of the blockchain allows the public to access the amounts of digital currencies, the identity of the owners remains hidden. This anonymity does not make it possible to know whether individuals or entities control the wallets.

One Million Bitcoin Wallets Yet to Hit Their 2021 High

Bitcoin's rise, with an increase of more than 70% this year, is based on the enthusiasm generated by U.S.-based Bitcoin spot exchange-traded funds (ETFs). These exchange-traded funds began integrating cryptocurrencies in January.

Despite this increase, the pace of million-dollar portfolio creation is slower than in the past. Bull market in 2021. At that time, more than 4,000 wallets per day reached millionaire status. This year's peak occurred on March 1, with 1,691 wallets.

Several factors contribute to this slight growth. Caico's analysis highlights a gradual influx of new capital. At the same time, large investors, or “whales,” are seizing the opportunity to profit from rising prices. Additionally, many are choosing custody services over personal wallets for their assets.

“In 2021, there was a massive influx of capital, as all manner of bulls sought to cash in on the cryptocurrency hype. This time around, whales may take a more cautious approach, waiting to see if the gains have weight before investing,” he said. As you mentioned Kaiko Research Company.

Read more: Who owns the most Bitcoin in 2024?

Interestingly, cryptocurrency is gaining more mainstream attention, which could herald more investments. partner Canadian superstar Drake recently shared a clip of Bitcoin bull Michael Saylor with his 146 million followers on his Instagram Story. Such support could attract new investors to the cryptocurrency fold.

Meanwhile, MicroStrategy added 12,000 Bitcoin to its holdings, an investment worth $821.7 million. This purchase brings the company's total holdings to 205,000 Bitcoin, worth over $14.84 billion. Furthermore, underlines Cryptocurrency trader MartyParty noted the decline in Bitcoin reserves on centralized exchanges. Binance's balance has fallen to 546,589.20 BTC, while Coinbase Pro has 358,787.15 BTC remaining.