With the rise in the Bitcoin rate, every day on average about 1,500 new “millionaire wallets” appear, in which $1 million or more of cryptocurrency is stored. However, this figure is still lower than during the 2021 bull market, Bloomberg writes, citing data from the Kaiko analytical platform.
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What is known
Data on transactions in crypto wallets is public , but it is not possible to establish their ownership to a specific owner. Kaiko tools do not take into account the addresses of exchanges and other large crypto-services.
The largest number of new wallets containing more than $1 million in bitcoins since the beginning of the year – 1691 – was recorded on March 1.
In 2020 —2021, more than 4 thousand wallets with a balance of about $1 million and more than 2 thousand wallets with more than $10 million appeared every day.
In 2021, the crypto market has been swept by a wave of retail investors eager to profit from the wave of hype. However, in 2023, large investors behaved more cautiously and sold their assets as Bitcoin reached new highs, writes Kaiko.
The slower pace may also be due to the fact that the influx of new capital has not yet accumulated force, and investors keep their assets with trustees, and not in personal wallets.