18.7 C
New York
Wednesday, October 9, 2024

The number of Bitcoin millionaires has dropped by 80% in a year

According to analytics company Glassnode, the bear market of 2022 resulted in an 80% reduction in the number of Bitcoin millionaires with at least 1 million BTC in their accounts. Statistics have been collected since Bitcoin reached its all-time high (ATH) of $69,000 in November 2021.

As of November 25, 2022, there were only 23,345 BTC wallets in the world with a balance of $1 million or more. Last November 8, the number of Bitcoin millionaires was 112,898.

Also Read: Solana (SOL) Review: All You Need To Know About Scalable Blockchain Clock

At the same time, according to Cointelegraph, the number of wallets with 1 or more BTC in the account continues to grow. On November 27, the indicator was 952,000, which became a record for the entire history of observations. However, in general, since November 18, the number of wallets with a non-zero balance began to decrease, the last time this was observed in April 2021.

At the time of writing, Bitcoin is trading at $16,196, down 2.14% on the day.

Akshit Yadav
Akshit Yadav
Akshit is a dynamic young voice in the blockchain and cryptocurrency space, known for his innovative insights and fresh perspectives. Passionate about the intersection of technology and finance, he brings a youthful energy to his exploration of decentralized systems and digital currencies.

Latest Posts

Don't Miss

Stay in touch

To be updated with all the latest news, offers and special announcements.