Analytics company Glassnode reported that the number of wallets on the Bitcoin network that hold at least 1 BTC exceeded 1 million on May 13.
Analysts attribute the marked increase in the figure to a 65% drop in bitcoin last year, which made it much more accessible to investors.
Since the beginning of February 2022, the number of wallets with at least 1 BTC has increased by 190,000.
“Buy when there’s blood pouring in the streets. $25,800 per bitcoin looks attractive, you can see it in the options market.
I am sure that our medium-term forecast of $35,000 will come true.
If the Fed freezes price increases and does not cut rates, this is the optimal situation for bitcoin growth,” wrote the co-founder of Glassnode under the pseudonym Negentropic.
The phrase “pouring blood in the streets” refers to the massive banking crisis in the U.S. – several large banks went bankrupt, and the crisis is not over yet.
It is worth noting that investors can have several addresses. In addition, many large wallets are owned by companies and cryptocurrency exchanges.
Therefore, the real number of owners of at least 1 BTC may be less.
Earlier on Bits.Media there was a large-scale article about significant growth of commissions in the network of the first cryptocurrency.