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As 2023 comes to a close, the cryptocurrency market as a whole is preparing to end the year on a positive note. A notable piece of data has emerged regarding Bitcoin (BTC), which has risen by 163.5% since the beginning of the year. The data shows that the largest cryptocurrency has made many of its investors wealthy over the past 12 months, turning approximately hundreds of them into millionaires.
70,000 New Bitcoin Millionaires Emerged
According to on-chain data, there are currently 97,326 investors holding at least $1 million worth of BTC. On January 5, 2023, this figure was 28,084 Bitcoin investors, indicating a 246.55% increase in the number of Bitcoin millionaires since then.
A closer look at the data reveals that 89,864 of these wallet addresses hold over $1 million, and 7,462 hold over $10 million in BTC. On January 5, 2023, there were 24,279 investors with over $1 million in BTC and 3,805 with over $10 million.
When it comes to the wealthiest Bitcoin investors in terms of their assets’ dollar value, on-chain data suggests that a peak may have been reached in this investor group, with the latest indication being that three whales have moved their BTC to cryptocurrency exchanges.
Current Bitcoin Price Situation
Currently, Bitcoin is trading at $43,617, down 0.55% in the last 24 hours. This price level indicates that the largest cryptocurrency has shown limited volatility throughout the day, starting at $43,677. CoinMarketCap data shows that Bitcoin’s price has increased by 5.74% in the last 7 days and by 15.66% in the last 30 days.
Overall, especially if Bitcoin surpasses the $45,000 threshold, which is the optimum price prediction of the Bitcoin Rainbow Chart for January 1, 2024, the emergence of even more millionaires is expected. Furthermore, with the anticipated approval of the United States’ first spot Bitcoin exchange-traded fund (ETF) and the expected block reward halving in April 2024, the creation of many more new Bitcoin millionaires is almost certain.
