A new milestone: 1M addresses hold 1 Bitcoin

[sokani]

The last past weeks have been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of address holding atleast 1 BTC are now 1 million. According to the report, last year when the market took a deep dive, a good number of persons were wise enough to grab some bags. Although, some addresses belong to crypto exchanges and some persons might have more than one wallet address but this milestone achievement is worth celebrating.

Source: https://cryptoslate.com/insights/a-new-milestone-1m-addresses-hold-1-bitcoin/

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[royalfestus]

The increasing number of wallets holding at least one Bitcoin is a clear indication that Bitcoin adoption is on the rise, and more individuals are showing interest in owning and utilizing it. As a result, it's probable that the demand for Bitcoin will increase, which could lead to a gradual increase in its value over time. Nonetheless, it's worth noting that Bitcoin is a highly volatile asset, and its value is susceptible to significant fluctuations in response to market conditions

[Vaskiy]

Thats a big number. Having one bitcoin is really big thing. It can be considered as investment, holding or whatever. For what they've achieved during the years we can expect more people getting aware of it. When the holding increases we can experience the increase in the adoption. This gives the common holders to stay positive and make use of each and every opportunity. Majority of the wallet owners seems to be between 25 and 40 years of age.

Quite often we were able to experience the changes happening in the market out of the volatility. Some state that the price will stabilize beyond certain point, in real-time it is highly impossible as the demand to supply market continues on its track.

[Nwada001]

Indeed, this is worth celebrating; in every bullish and bearish market, there is always a change of ownership among Bitcoin holders. Most people see the bull run as an opportunity to sell off all their holdings, which is why there will always be others willing to buy and bag up more. This 1 million address holds at least 1 bitcoin. There could still be possible holders out there whose holdings are not being recorded because they might be holding their coins on a centralized platform where all their holdings are recorded as part of the exchange's own until they withdraw them to their personal wallet. I believe after the halving, we might as well see an increase in the amount of wallets holding more, even above 1 bitcoin.

[hatshepsut93]

The last past weeks has been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of wallets holding atleast 1 BTC are now 1 million.

Your title says "addresses" and you post says "wallets", so which is it? I have a wallet with over 1 BTC, yet my coins are spread across multiple addresses, so I don't have a single address with >1 BTC. I probably never had such address, even in the earlier days, when the price was lower, because back then I was moving my coins a lot.

Also, the addresses with >1 BTC could belong not to single users, but to organizations that hold someone else's coins.

[tabas]

It doesn't matter to me how many of those belong to one owner. The important thing I guess is we see that there's 1M wallets that have been filled with 1 BTC and all of them are holding. While it's estimated that satoshi has got 1M supply and that will never be recovered. We can think of how many of these are no longer in circulation while these 1 btc's that are in these wallets, this only simplifies  that many have been taking care even of themselves and hold at least even 1 btc.

[Sarah Azhari]

According to glassnode, the number of wallets holding atleast 1 BTC are now 1 million. According to the report,

That is good news, this means Bitcoin users continue to rise every day and strengthen the system. And, I hear not only 1 BTC but, another nominal like 0.1 BTC also rise in every day, from 1 million in 2019 to 3 Million in 2023. I think people around the world is understood very much the function and how they take advantage of the investment. Bitcoin is one of the strongest investments than other instruments, like stock, and gold. That probably will rise with the new user, especially at the same time with a halving moment where Bitcoin always hype, and will appear frequently on in every news.

[bitterguy28]

The last past weeks has been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of wallets holding atleast 1 BTC are now 1 million. According to the report, last year when the market took a deep dive, a good number of persons were wise enough to grab some bags.

there is completely true about people are taking the advantage of buying once there is a bear market,
as we have seen this happened many times before because of Buying Low selling high .

 Although, some wallets belong to crypto exchanges and some persons might have more than one wallet address but this milestone achievement is worth celebrating.

Source: https://cryptoslate.com/insights/a-new-milestone-1m-addresses-hold-1-bitcoin/

That is the sad part about that , in which we are not sure that if those 1 million wallets are truly owned by each person or there are multiple of those are handled by one person , though the milestone is achieved and we must look in to the good side of this .

[BlackBoss_]

That is the sad part about that , in which we are not sure that if those 1 million wallets are truly owned by each person or there are multiple of those are handled by one person , though the milestone is achieved and we must look in to the good side of this .

It is part of a truth and they did not hide the truth. They even are not able to identify what are addresses belong to one owner. Addresses can be connected that they belong to one wallet if they have transactions in history that help explorers to connect those addresses.

I agree with you that the writer should have a note about it and without note, it is like they intentionally hide the truth but we can not exclude possibility that the writer even does not know about this technical thing.

You can use LookintoBitcoin.com with some charts for addresses with balance > x+ amount BTC
https://www.lookintobitcoin.com/charts/addresses-greater-than-0-1-btc/

[Similificator]

Regardless of the number of people owning multiple wallets that have 1 or more Bitcoins within them, I think that this is still a good thing for Bitcoin. I mean, it wouldn't make sense for that number to increase if mass adoption itself isn't increasing. One person doesn't need too many wallets even if they have the habit of moving or spreading their Bitcoin possessions. I'd say that most people like that wouldn't need more than 30 wallets that they would actively use. And the number of people who would need more wallets than that are probably quite few. I believe that the number of wallets having at least one bitcoin will keep on increasing with time, especially on bull run seasons.

[Onset]

It’s rather interesting how readers react to this.. maybe even more interesting than the news itself. Very fascinating that nowadays 1 Bitcoin’s such a far away dream when back in the day nobody would of even considered paying a dime for it.

Maybe only a handful of people hold a significant part of these addresses. Maybe not. Nonetheless, it’s still a somewhat interesting milestone even if it can be easily cheated.

[CryptSafe]

The last past weeks has been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of wallets holding atleast 1 BTC are now 1 million. According to the report, last year when the market took a deep dive, a good number of persons were wise enough to grab some bags. Although, some wallets belong to crypto exchanges and some persons might have more than one wallet address but this milestone achievement is worth celebrating.

Source: https://cryptoslate.com/insights/a-new-milestone-1m-addresses-hold-1-bitcoin/

Possibly, the rise in bitcoin holders is rapidly increasing and i can make bold to say that Bitcoin is the new digital gold existing. As the day passes by, lots of people are beginning to see the importance and need of holding bitcoin. I would not be surprised if the holders of bitcoin surpasses this very number stated here but i believe it would definitely be more than that in the nearest future as the  case maybe, there have been series of holders whos bitcoin holdings are very much little  but in the future, it would develop a bit-better than as it is now even much better.

[digaran]

Great! Now all the thieves around these particular woods will have 1 million extra high value addresses to put into their input files to keep grinding fruitlessly for many years to come.😄

[tread93]

The last past weeks has been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of wallets holding atleast 1 BTC are now 1 million. According to the report, last year when the market took a deep dive, a good number of persons were wise enough to grab some bags. Although, some wallets belong to crypto exchanges and some persons might have more than one wallet address but this milestone achievement is worth celebrating.

Source: https://cryptoslate.com/insights/a-new-milestone-1m-addresses-hold-1-bitcoin/

Huge milestone for the bitcoin ecosystem, that is one way to show that more and more people are becoming more and more confident in the network. 1 Bitcoin is not a small amount of money for most people, but I think that is even a testament. For 1 Million people to be HODLing 1 BTC, for most that is like their life savings. They are literally holding onto that bag for dear life and I think that speaks volumes.

[peter0425]

The last past weeks has been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of wallets holding atleast 1 BTC are now 1 million. According to the report, last year when the market took a deep dive, a good number of persons were wise enough to grab some bags. Although, some wallets belong to crypto exchanges and some persons might have more than one wallet address but this milestone achievement is worth celebrating.

Source: https://cryptoslate.com/insights/a-new-milestone-1m-addresses-hold-1-bitcoin/

While the objective of the thread is to boost Bitcoin holders and believers but the reality is not commenting to its situation .

I would love knowing the reality if people of a million holds each a bitcoin , and not addresses or wallet that can be owned by fewer than the counts.
because there is millions of bitcoin circulated and there are also  dozens/hundreds or even thousands of whales that can hold multiple of those wallets .

but at least thanks for sharing as this would be lovely to read for all of us bitcoin lovers.

[BALIK]

This proves that bitcoin is growing, and no one can stop it. Recently, there have been several theories about what will happen if bitcoin fails to reach its ATH after the halving, and with this news, it has cleared many people's doubts. Even if history doesn't repeat itself, we don't need to worry because as long as the demand for bitcoin is growing every day, demand exceeds supply, it's only a matter of time before bitcoin hits the new ATH. Our remaining task is to try to get on the list of owning 1 BTC.

[michellee]

If those 1M wallets come from 1M different people, that's certainly good progress because adoption has reached 1M people. But we don't know if it's real 1M people or just wallets owned by some people trying to store 1 BTC in multiple wallets.

We know that each person can have more than one bitcoin wallet so the number of 1M wallets needs to be clarified again. And I guess they can't prove it because anyone with 1 BTC in their wallet won't want to admit it.

But I think the progress of crypto adoption is going in a good direction even though the current market situation may not yet show a significant recovery. But there will come a time so we have to be patient.

[sokani]

Your title says "addresses" and you post says "wallets", so which is it?

Thank you chief, I've effected the correction.

If those 1M wallets come from 1M different people, that's certainly good progress because adoption has reached 1M people. But we don't know if it's real 1M people or just wallets owned by some people trying to store 1 BTC in multiple wallets.

It was clearly stated that some of those addresses might belong to crypto exchanges while some might belong to individuals with multiple addresses.

in every bullish and bearish market, there is always a change of ownership among Bitcoin holders. Most people see the bull run as an opportunity to sell off all their holdings, which is why there will always be others willing to buy and bag up more.

The bull season is a period where some old holders would be exiting their positions by selling their bitcoin while new holders would buy the bitcoin thereby retaking their positions. During the 2017 bull season, there were over 500,000 addresses with atleast 1 million Bitcoin but this figure has increased over the years.

[Poker Player]

It is an eye-catching round figure, but nothing more. We do not know, as has been mentioned, if several of these addresses belong to the same person.

What we do know is that even once they are all mined, there will not be enough Bitcoins for all the millionaires, so having fractions of Bitcoin when it is widely adopted will have a lot of value. By then, addresses with 0.1 Bitcoin or even 0.01 Bitcoin will attract attention, as a whole Bitcoin will be prohibitively expensive.

[Onset]

The bull season is a period where some old holders would be exiting their positions by selling their bitcoin while new holders would buy the bitcoin thereby retaking their positions. During the 2017 bull season, there were over 500,000 addresses with atleast 1 million Bitcoin but this figure has increased over the years.

But what if that’s not necessarily the case? Over the years, there’s one more figure that had an impressive increase and it’s the price. With it comes an increased fear of not having a wallet secure enough as well, so what if a lot of this increase in addresses holding 1 Bitcoin comes from an attempt at having a better security overall?