Bitcoin addresses holding 1 BTC or more reach one million: Glassnode

The one million wholecoiner milestone was reached on May 13, according to information from Glassnode.Number of Bitcoin wallets holding more than 1 Bitcoin given that creation. Source: Glassnode.As the rate of Bitcoin fell more than 65% over the course of last year, the number of wallet addresses holding one Bitcoin or more spiked, with the most significant rises occurring throughout an intense market crash in June and from November 11, the date that FTX collapsed and subsequently submitted for bankruptcy. These are some of the reasons why Glassnode said that it “remains confident” Bitcoin can reach a cost of $35,000 in the mid-term.

While the round number “one million” marks a new notch in the record books, its worth pointing out that one Bitcoin wallet address does not always represent a single person.Many crypto investors have several Bitcoin addresses and other addresses belong to major organizations like cryptocurrency exchanges and investment companies that usually own big sums of Bitcoin.Related: Bitcoin rate strikes $27.2 K, however new analysis warns more losses likelyAccording to information from crypto analytics company CoinGlass, of the approximately 19 million Bitcoin currently in blood circulation, 1.89 million of these BTC– worth $50.7 billion– are held on major central exchanges such Binance and Coinbase. The overall number of Bitcoin held on central exchanges.