From Investing.com: 2024-06-27 14:30:23

In a major milestone for the cryptocurrency market, the number of addresses holding more than one BTC has now exceeded one million, according to a report by IntoTheBlock. This trend reflects a growing confidence in Bitcoin as a store of value and investment asset, with more individuals striving to become “wholecoiners.”

The achievement of over one million wholecoiners is significant given Bitcoin’s limited supply of 21 million. With increasing demand and confidence in Bitcoin’s potential for long-term growth, holding even one BTC becomes more valuable. This scarcity factor highlights the importance of reaching the wholecoiner milestone.

Bitcoin has dropped around 17% from its all-time high of nearly $74,000 in mid-March. Currently trading at $61,592, the market sentiment has been affected by shifting expectations of U.S. interest rate cuts. Optimism about the approval of U.S. exchange-traded funds has also factored into the fluctuating price of Bitcoin in recent times.

Read more at Investing.com: Over 1 Million Addresses Now Own 1 BTC By U.Today