Bitcoin is currently experiencing a record number of retail wallets with BTC – 31 million of them.
Wallets with $10, $100 or $1000 are all equipped with ATH, while there are over 20k wallets with over $1 million.
With Bitcoin’s recent price increase, it appears that retailers and BTC millionaires are buying, not selling.
Bitcoin (BTC) has seen quite impressive price development in 2020. First it recovered from a major price crash caused by the COVID 19 fears in March, and then it rose even further. With the recent news that PayPal is planning to add this and several other coins to its platform in the coming months, BTC attracted a new wave of users, resulting in a whole new record number of active wallet addresses.
The number of BTC wallets with coins reaches a new ATH
According to recent data reported by Glassnode, retail wallets are higher than ever with BTCs of $10, $100 or $1,000. The coin currently has over 31 million addresses containing BTC.
Addresses containing all three amounts are currently in their ATH, according to Glassnode’s CTO, Rafael Schultze-Kraft.
Number of #Bitcoin addresses that contain at least…
…BTC worth 10 dollars: 17.6 million — ATH
…BTC worth $100: 9.7 million — ATH
…BTC worth 1000 dollars: 3.6M — ATH
Diagram: https://t.co/QoWUS3bKYh pic.twitter.com/IKAGvcDNaB- Rafael Schultze-Kraft (@n3ocortex) 27 October 2020
The new development also marks a completely new milestone when it comes to decentralization in crypto-ownership. While large quantities of coins used to be owned by fewer people, this has now changed and more people now own smaller quantities, leading to greater decentralization.
Everyone buys BTC
Earlier this year it was reported several times that institutions are developing a massive interest in the BTC and are using Grayscale and other companies to accumulate large quantities of coins. Now that the BTC price has soared again, private investors also seem to be getting active again and buying massively.
It is also remarkable that the Bitcoin millionaires are not holding back either. There are currently about 20,000 wallets with more than $1 million in BTC, the highest number of wallets with that much money since January 2018.
The number of addresses of #Bitcoin millionaires (addresses who own ≥ $1 million worth of $BTC) exceeded 20,000.
This is the highest number since January 2018.
Live Diagram: https://t.co/Fh63ST4nph pic.twitter.com/hAILGTypPD- glassnode (@glassnode) October 26, 2020
A well-known analyst, Willy Woo, recently predicted that catastrophic price dumping is unlikely to occur in the macro market in the foreseeable future, and so far this prediction has proved true. Woo believes that millionaires won’t sell their coins, and judging by their behavior – as well as Bitcoin’s – the long-awaited BTC rally may finally be on its way.