What the numbers say: BitInfoChart's data has shown that Bitcoin (BTC), the largest cryptocurrency by market cap, has made 47,994 people crypto millionaires in 2023. The number of Bitcoin addresses holding more than $1M of Bitcoin increased to 76,078 as of June from 28,084 in January, with a 170.89% surge in just five months. Among these millionaire wallets, 70,747 addresses hold more than $1M of BTC, while 5,331 possess at least $10M of BTC. In January, these figures were 24,279 and 3,805, respectively. Relevance: The increased number of addresses with more than $1M of BTC was mainly attributed to the price increase BTC saw since the beginning of the year. The popular cryptocurrency gained over 55% value year-to-date. Bitcoin spent the first half of the year more successfully than last year, capturing an upward trend, and it even surpassed the $30,000 barrier in April for the first time since June 2022. However, the leading cryptocurrency then retreated below this level again, and it is still down around 60% from its all-time high in November 2021. Brands that should care: On the other hand, earlier in June, the U.S. Securities and Exchange Commission (SEC) consecutively filed two separate lawsuits against Binance, the largest crypto exchange by trading volume, and Coinbase, the largest U.S. crypto exchange, over alleged U.S. securities law violations. This resulted in a slight price decline in Bitcoin and 6.4% of the Bitcoin supply leaving major crypto exchanges over the last week. Eventually, Bitcoin supply on crypto trading platforms retreated to its lowest levels since February 2018. |
