On May 13, 2023, a milestone for Bitcoin has reached. More specifically the number of Bitcoin wallet addresses holding 1 BTC or more has surpassed 1 million, according to Glassnode. The increase in wallet addresses holding one Bitcoin is probably due to the fall in Bitcoin prices in the last year (- 65%)
While the one million “wholecoiner” milestone is a new notch in the record books, it’s important to note that one Bitcoin wallet address doesn’t always represent a single person. A wallet address holding 1 BTC or more does not necessarily equate to the number of people holding 1 BTC or more.
Many crypto investors have multiple Bitcoin addresses, and some addresses belong to major institutions like cryptocurrency exchanges and investment firms that typically own large sums of Bitcoin.
