Is Bitcoin Really Dead? Wallets with at least 1 BTC are approaching historic lows

News JVTech Is Bitcoin Really Dead? Wallets with at least 1 BTC are approaching historic lows

While a number of events have touched the crypto sector lately, it’s time to take stock. Surprisingly, this year’s ups and downs seem to have had no more impact on the accumulation of Bitcoin than that. In fact, the number of addresses with at least one Bitcoin continues to grow.

Bitcoin addresses with at least 1 BTC are approaching a large number

The decline of the FTX platform combined with an overall decline in the value of the cryptocurrency market does not scare investors. Despite the turbulence the ecosystem is experiencing, the first cryptocurrency continues to gain followers.

In fact, the number of known addresses with at least 1 BTC has reached a new all-time high. According to data from the Bitcoin Rich List, the number of wallets containing 1 Bitcoin is approaching one million. Just after 14 years of existence, the first cryptocurrency has managed to register more than 962,000 wallets with at least 1 Bitcoin.

Despite this spectacular increase, it is important to remember that behind every address there is not necessarily an individual. As an example, Satoshi, the creator of Bitcoin, himself has several hundred addresses with more than one Bitcoin.

A paradoxically favorable context for the acquisition of Bitcoin

Although the crypto sector is in the grip of a difficult situation after several crisis episodes like Terra Luna or FTX, the situation is not felt on this kind of data. Against all odds, Bitcoin continues to convince new buyers. This is primarily due to the current price of cryptocurrency.

After reaching €54,000 in October 2021, Bitcoin gradually fell until it reached €16,000 in December 2022. So today, when some see the inevitable death of Bitcoin, others believe that it is the balance. Also for the more maniacs, it is now easier to get a unit of this famous Bitcoin.

On the other hand, a bitcoin at €16,000 is not within the reach of all budgets. Nevertheless, smaller BTC holders are also part of this trend. Wallets with between 0.00001 and 1 BTC number 42 million.

In short, the desirability of Bitcoin increases while its price decreases. All this in the hope of extracting some added value during a potential next cycle. Concretely, cryptocurrency seems to be convincing more and more users to take the plunge over time, despite recent turbulent episodes.

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