The population of Bitcoin “full-coiners,” those who possess at least one Bitcoin in their wallets, has consistently surpassed the 1 million mark for over a year.
On May 13, 2023, the count of “full-coiner” addresses first exceeded one million when the value of Bitcoin (BTC) was a mere $27,000, as reported by Glassnode’s data. The peak number of such wallet addresses was recorded on January 1 of this year, reaching slightly above 1,024,000, each holding at least one Bitcoin. Despite the price of Bitcoin soaring to twice its May 2023 value, the current tally of wallet addresses with a minimum of one Bitcoin is 1,010,800.
The landmark achievement of one million full-coiner wallets was initially attained on May 13. Courtesy of Glassnode.
This significant count of one million Bitcoin wallets reflects a robust upward trajectory in Bitcoin ownership. It’s crucial to recognize that a single Bitcoin wallet address doesn’t equate to an individual owner. Numerous crypto investors manage several Bitcoin addresses, and some belong to large entities like cryptocurrency exchanges and investment firms, which typically hold substantial Bitcoin amounts.
Out of the 19.7 million Bitcoin in circulation, exchanges like Binance and Coinbase hold 2.48 million — valued at $152 billion.
Exchanges currently have $152 billion in Bitcoin. Source: Glassnode.
Moreover, an estimated 3 million BTC, valued at $80.4 billion and representing 17% of the total circulating supply, are considered irretrievably lost, according to Glassnode.
When Bitcoin was introduced on January 3, 2009, only Satoshi Nakamoto’s wallet address contained more than one Bitcoin. This figure surged to 30,000 by early 2010 and continued to rise rapidly over the following eight years.
However, there have been instances when the number of full-coiner wallet addresses significantly declined, dropping by 30,000 or more. Such decreases occurred thrice: between March and May 2016, during the prolonged bear market from September to December 2018, and again between February and July 2021 following a steep sell-off succeeding a rapid price increase.
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