The number of Bitcoin millionaires, addresses with 1,000+ coins, has touched its highest level since April 2021. Glassnode’s on-chain data shows that 2,262 BTC addresses are now holding more than 1,000 coins.
According to the current price of Bitcoin, each of these addresses hold at least $40 million worth of cryptocurrency. “Number of addresses holding 1k+ coins just reached an 11-month high of 2,262,” Glassnode highlighted.
Despite price challenges and a drop in network activity, Bitcoin addresses holding more than 1,000 coins have increased. A sharp surge is being observed at the start of March 2022. A relatively smaller number of Bitcoin holders with at least 1 BTC have also joined the accumulation trend.
According to Glassnode, there are more than 820,000 addresses with at least $40,000 worth of BTC. “The number of BTC addresses holding 1+ Bitcoin just reached a 10-month high of 820,552,” the on-chain analytics platform mentioned.
BTC has witnessed a decent rally since the start of March 2022 after global investors shifted their focus towards emerging assets. However, its price failed to sustain above $40,000 on Friday.
Bitcoin Adoption
The adoption of the digital asset kept rising at a rapid pace despite challenges in recent weeks. In an interview with The Street, Jamie Iannone, the CEO of eBay, said that the company is planning to explore the possibilities to accept digital currencies.
“Crypto adoption globally continues to soar and aligns with the thesis that we are in an accumulation phase. Ebay’s CEO hinted this week that they will soon integrate crypto payments, as they aim to capture GenZ and millennial audiences. This comes after the firm enabled NFT trading last year on its platform. Integrating crypto would be a great step for mainstream adoption, as eBay has around 160 million active buyers worldwide as of Q2 2021,” Marcus Sotiriou, an Analyst at GlobalBlock, said.
