U.Today – In a major milestone in the cryptocurrency market, the number of addresses holding more than one BTC has surpassed 1 million.
According to a recent report by IntoTheBlock, there are currently 1,010,777 such addresses, marking a remarkable achievement in the Bitcoin ecosystem.
IntoTheBlock, a blockchain analytics platform, highlighted this milestone in a chart illustrating the growing trend of individuals and entities accumulating Bitcoin to achieve comprehensive tokenizer status. The term “wholecoiner” refers to those who own at least one full Bitcoin, a status increasingly sought after by investors.
The data shows a clear long-term trend: more and more people are striving to become wholecoiners.
This trend reflects the broader adoption and trust in Bitcoin as a store of value and investment asset. The growing number of comprehensive users is a testament to the growing belief in Bitcoin's potential for long-term growth and stability.
IntoTheBlock's analysis indicates that this bullish trend is not a short-term phenomenon, but a sustained movement. Over the years, as Bitcoin has matured, the number of addresses holding at least one BTC has steadily increased.
What this implies
The achievement of over one million Wholecoiners is particularly significant in the context of Bitcoin’s limited supply. With only 21 million Bitcoins left to be mined, owning even one Bitcoin becomes increasingly valuable as demand continues to rise. This scarcity factor further underscores the significance of the Wholecoiner’s milestone.
Bitcoin has fallen roughly 17% since hitting an all-time high of nearly $74,000 in mid-March amid growing optimism over U.S. exchange-traded funds being approved to directly own the original cryptocurrency.
At the time of writing, Bitcoin was up 0.04% in the previous 24 hours to $61,592. Adding to the gloom in the markets are changing expectations of interest rate cuts in the United States, which has reduced demand for the riskiest assets.
This article was originally published on U.Today.
