A new milestone: 1M addresses hold 1 Bitcoin

[bussybuddy]

I don't understand the purpose of these statistics as I find it may reflect the increase in wallet addresses but also does not completely reflect the number of people interested in bitcoin.
Like many people who use bitcoin I think they will also store bitcoins on different addresses, but on a positive note, bitcoin's popularity and interest over time I see it growing and this is completely undeniable.

[ancafe]

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.

This indicates a growing trust in bitcoin and if 1 million wallets are held by 1 million people, then it is possible that it could double that for the next year as people become more aware of the advantages of bitcoin. These numbers are not the real deal, but the increase in bitcoin adoption is certainly growing rapidly and indicates that the public is aware of how to use bitcoin now and in the future.

Fluctuating prices still place bitcoin as a valuable asset and people tend to start to realize about the store of value in the long term, so the increase in wallets also indicates that more people are holding bitcoin in the long term as an option for investment.

[Jet Cash]

I think I would prefer to see smaller holdings spread more widely.

[DaveF]

Going with as others have said it's pointless info.
Without knowing how many different people control those addresses it's just a data point without real meaning.

Kind of like saying there are 1 million accounts in this bank with more then $25000
Are there 1 million different people or did some mega corporation decide to separate a few multi million dollar accounts into smaller separate ones for some reason.

But, it makes a good click-bait headline.

-Dave

[aoluain]

I'm sure there is a graph somewhere, and I think I've seen it before of the breakdown of
addresses with their Bitcoin amount, i.e 1000BTC, 500BTC, 100BTC, 50BTC and including
less than 1BTC number if addresses, no matter which way we look at it the numbers just
highlight the scarcity of Bitcoin.

[retreat]

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/

This is quite an amazing milestone of Bitcoin adoption even though many are skeptical and discredit Bitcoin but it still remains popular and more and more people start increasing their investment. I think that if Bitcoin adoption can continue like this, it will not rule out that Bitcoin will become a very popular digital asset in the future and there will be more people adopting it in their daily transactions.

[Gallar]

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.

~

It's a very good and extraordinary achievement. Because there are at least a million wallets, and each of those wallets contains one bitcoin. I personally think owning one bitcoin is something that is very proud of and certainly wanted by all bitcoin investors. But because the price is expensive, it's quite difficult and it takes quite a long time to be able to buy one bitcoin. However, with this kind of news, I am increasingly convinced that bitcoin does have a positive and significant development towards mass adoption. So it is very likely that the halving will occur at the end of next year, I think it will increase the popularity of bitcoin, the price value will also be higher, and will certainly attract people's interest to invest in bitcoin. Because currently bitcoin/crypto users, when viewed from various sources, are still in small numbers.

Blockchain company, TripleA, released the latest data on the level of ownership of global crypto assets. The data estimates that the level of ownership of crypto assets globally is only 4.2% with more than 420 million crypto users in the world.

Source: https://coinvestasi.com/berita/projection-investor-kripto-dunia-dunia

And while the human population on earth today is around 8,005,176,000 souls. So bitcoin/crypto still has a long way to go for overall adoption. Even so, I'm sure that every year, there will always be positive developments in bitcoin and crypto in general.

[BenCodie]

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

One million addresses holding 1 Bitcoin does not mean that there are 1,000,000 different individuals holding Bitcoin. Miners, billionaires and first-generation holders who have invested some time into distributing their coins into more than one address could very well control a large portion of these addresses, and have hidden them into smaller amounts to prevent the wider ecosystem from seeing such a strain of power into select few people. I'd say that this is much more likely than 250,000 of these addresses belonging to different individuals.

[Crypt0Gore]

That's good news, more adoption rate than what we have seen in the past years, bravo, the future looks promising for crypto adoption, but there is no way to know that those addresses belong to 1 million different people, I mean 1 address per one person, there is simply nothing to prove this because people don't trust a wallet address for too long, whales are now smarter since they heard about untouched Bitcoin wallet address getting stolen by hackers and bad actors, now they are very careful.

I won't be surprised if many of those addresses belong to a company, a whale, or an entity, they might decide to separate the Bitcoin instead of leaving them in a single address, and if they can handle the safety of the private keys, this is a good safer plan for holding Bitcoin.

[Luzin]

I won't be surprised if many of those addresses belong to a company, a whale, or an entity, they might decide to separate the Bitcoin instead of leaving them in a single address, and if they can handle the safety of the private keys, this is a good safer plan for holding Bitcoin.

It seems that you are sure of the owner of that address. Maybe yes and no. Only a few companies clearly store Bitcoin and if calculated it is no more than 1 million BTC. So I think there are many owners besides the company. The happy thing is, if they hold back then they have done a good act. They reduce the circulating supply. The hope is that they will always hold back and continue to give confidence that BTC is a good asset to invest. So that the price of BTC will increase and have great confidence in its value.

[kryptqnick]

That sounds like a nice achievement in distribution of coins, and I hope we'll see even better distribution in the future. The op acknowledged that some addresses can hold funds of many people and some people can have several wallets, and with that, I still think it's largely not pointless info.
As for the past few weeks and the fees, I think it's really great that Bitcoin bounced back pretty fast, and while the fees are still not low, they are reasonable and can be expected to fall even more. It's been two years since the last fee spike, and that one was way worse. I'm okay with such occasional situations, and grateful that they are rare and temporary.

[tbct_mt2]

That sounds like a nice achievement in distribution of coins, and I hope we'll see even better distribution in the future. The op acknowledged that some addresses can hold funds of many people and some people can have several wallets, and with that, I still think it's largely not pointless info.

Bitcoin will be distributed to more people but not all of them will become Bitcoin holders. They will buy it, sell it or if they feel disappointed, they will exit this market forever. Fortunately, coins won't disappear to the air and will be changed from sellers to buyers. If there are people who exit this market forever, there will be opposite people who will become diamond hand holders.

Some bitcoins will be lost by people who lose their private keys and it is painful for people who lose their bitcoins but it is great present for other holders. It will help Bitcoin has less supply and makes its price higher.

One million addresses holding 1 Bitcoin does not mean that there are 1,000,000 different individuals holding Bitcoin.

Addresses, wallets and holders are different and we can not identify holders exactly with on-chain data.

Diversifying our bitcoins into different wallets, different addresses and devices are best ways to avoid losing all of our coins. We should not think we will never be hacked.

[LittleBitFunny]

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

One million addresses holding 1 Bitcoin does not mean that there are 1,000,000 different individuals holding Bitcoin. Miners, billionaires and first-generation holders who have invested some time into distributing their coins into more than one address could very well control a large portion of these addresses, and have hidden them into smaller amounts to prevent the wider ecosystem from seeing such a strain of power into select few people. I'd say that this is much more likely than 250,000 of these addresses belonging to different individuals.

What you say is not wrong, this 1 million wallet is insufficient to prove the increasing use of bitcoin. This is just a metric for reference, and it doesn't have any meaning regarding bitcoin acceptance, as many people can also hold many wallets. I myself am also using two wallets to store bitcoins for different needs.

But we don't need that metric, just seeing with the naked eye what's going on, there's no denying that bitcoin is becoming increasingly popular and of interest to more people. Along with the economic crisis, inflation, and bank collapse... all are positively impacting the increase in popularity of bitcoin worldwide.

[Fundamentals Of]

Although the increase in addresses doesn't necessarily mean an increase in Bitcoin supporters or adopters, I'm sure there is also growth there. Of course 1 million addresses holding 1 Bitcoin is not equal to saying there are already 1 million people owning 1 Bitcoin. But I'm pretty sure that there are more people holding 1 Bitcoin now than in the past month, week, or even yesterday. Adoption is growing and one way of knowing it is knowing that every single day a new person learns Bitcoin, generates an address, and buys.

[crunck]

To me, increasing the number of wallet addresses doesn't make much sense since one person has ownership of hundreds of different wallets. But with the increasing acceptance of bitcoin by more stores and more countries around the world, that interests me more. That proves the demand for bitcoin is really strong, so the price increase will only be a matter of time when supply exceeds demand.

[ethereumhunter]

But we still don't know who owns all those wallets and can only know that each wallet has 1 BTC. But it seems that it would be strange to see that many wallets only contain 1 BTC because usually, people keep varying amounts of BTC and not 1 BTC.

But let's just let those who have saved 1 BTC in that wallet because the most important thing is that we also have to think about ourselves and try to keep accumulating lots of BTC. And we also know that investing in BTC is a good way to get big profits in the future even though the price hasn't gone up high now and even tends to stay low now.

[Plaguedeath]

I think I would prefer to see smaller holdings spread more widely.

Bitcoin is for everyone, but everyone can't own Bitcoin.

There are around 8 Billion of world populations [1], assuming Bitcoin have been mined all, 21 Million Bitcoin/8 Billion peoples means every person only hold 0.002625 BTC or worth for $70. It's really small, I don't think every person are enough to hold such amount.

I think if every person holding 1 Bitcoin is already widely spread.

[1] https://www.worldometers.info/world-population/

[raumonds]

Looks like Bitcoin is reaching new heights, despite those pesky transaction fees. 1 million addresses holding at least 1 BTC? That's some serious hodling power.

[noorman0]

The increasing number of wallets holding at least one Bitcoin is a clear indication that Bitcoin adoption is on the rise,

Measuring increase in adoption this way is not ideal, it does not represent the true number of owners. One can split bitcoin ownership down to the smallest fraction of units, that means max is 2.1*10^15 addresses.
If centralized exchanges never swept users' bitcoins to 1 hot address, perhaps this achievement would have been announced by the media long ago (if they didn't have other, fancier news ideas).

[irhact]

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

There's no way for those addresses to be verified of not been manipulated, bitcoin whales know that people are closely monitoring the progress of address holding the least 1 Bitcoin so what if they're increasing the number by splitting their Bitcoin between different addresses. This doesn't indicate that Bitcoin adoption is rising. Adoption should be about Bitcoin been used and not stored.

Congratulations to bitcoin for achieving this milestone but we should not think this milestone of wallet holding more than one Bitcoin is the same thing as Bitcoin been used. For Bitcoin to be celebrated of gaining adoption, we need more stores and companies accepting it.