As 2023 draws to a close, the cryptocurrency market is poised to end the year on a positive note, with Bitcoin (BTC) experiencing a significant rise of 163.5% since the beginning of the year. Recent data reveals that Bitcoin has made hundreds of its investors millionaires over the past 12 months, highlighting the wealth generation potential of the world’s largest cryptocurrency.
Chain analysis data indicates that there are currently 97,326 investors holding at least $1 million worth of BTC, a substantial increase from the 28,084 Bitcoin investors at this threshold on January 5, 2023. This marks a staggering 246.55% growth in the number of Bitcoin millionaires within the year.
A closer examination of these figures shows that 89,864 of these wallet addresses hold over $1 million, while 7,462 have over $10 million in BTC. On January 5, 2023, there were 24,279 investors with over $1 million and 3,805 with over $10 million in Bitcoin.
When considering the wealthiest Bitcoin investors based on the dollar value of their assets, chain data suggests that the peak for this investor group may have been reached, with recent movements showing three whales transferring their BTC to cryptocurrency exchanges.
Currently, Bitcoin is trading at $43,617, a slight decrease of 0.55% over the last 24 hours. This level of trading indicates limited volatility throughout the day, with the cryptocurrency starting the day at $43,677. Data from CoinMarketCap shows that Bitcoin’s price has increased by 5.74% over the last week and 15.66% over the past month.
Overall, the prospect of Bitcoin crossing the $45,000 threshold, which is the optimal price prediction of the Bitcoin Rainbow Chart for January 1, 2024, suggests the potential emergence of even more millionaires. Additionally, anticipation of the approval of the first spot Bitcoin exchange-traded fund (ETF) in the US and the expected block reward halving in April 2024 are seen as almost certain to bring about a surge in the number of new Bitcoin millionaires.