Number of Bitcoin millionaire wallets triples in 2023

The number of crypto wallet addresses holding more than $1 million in Bitcoin (

Meanwhile, the number of so-called “wholecoiners” — wallets with a balance of at least 1 BTC — has increased slightly since the beginning of the year. Currently, there are 1,018,015 such addresses, a 4% increase from 978,197 on Jan. 1.

*The number of wholecoiners increased by 4% from Jan. 1 this year. Source: Glassnode*

The largest increase in wholecoiners since 2018 occurred between April and December last year showing a strong accumulation trend despite a broader price decline resulting from a slew of high-profile crypto industry meltdowns.

Bitcoin is currently changing hands for nearly $37,100, up 38% over the last month. Bitcoin’s price has been buoyed by market enthusiasm for multiple pending spot exchange-traded fund (ETF) products.

Bloomberg ETF analysts claim there’s a 90% chance a spot Bitcoin ETF will be approved by Jan. 10, with many expecting a significant price rally to follow.

I’ve gotten a lot of questions regarding my current view on Spot #Bitcoin ETFs over the last couple weeks. This is the first section of the note I put out yesterday with @EricBalchunas.

TLDR: Our view hasn’t changed much https://t.co/dRAm5IsdQf pic.twitter.com/Htsi3n2XxV

— James Seyffart (@JSeyff) October 13, 2023

Despite the market’s bullish sentiment, not all analysts are convinced that a spot Bitcoin ETF approval will launch the next bull run.

CMC Markets analyst Tina Teng claimed while an approval would be a positive for the crypto industry, both Bitcoin and the wider macro landscape lack the required fundamentals to justify an all-out trend reversal.

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