The number of people who own at least one bitcoin has set another record

The number of cryptocurrency wallet addresses containing one bitcoin or more has exceeded one million. According to Glassnode, this figure was reached on Saturday, May 13.

Crypto experts emphasize that over the past year, the price of the flagship cryptocurrency has fallen by more than 65%, so people have been buying bitcoins en masse. The most noticeable spikes occurred during the sharp collapse of the crypto market in June 2022 and since November 11, the date when the FTX cryptocurrency exchange collapsed and later declared bankruptcy.

Glassnode co-founder Raphael Schulze-Kraft noted that the flagship cryptocurrency could drop to $ 25,800, but in the medium term, the BTC could reach $ 35,000. The expert spoke about the prospects for bitcoin after numerous collapses of large banks in the United States, as well as after the Fed announced its intention to suspend interest rate hikes in the coming months.

«Buy when there is Blood in the streets.»

?$ 25.8k still remains a possibility, as indicated by the options market

? Confident in our mid-term outlook of $ 35k as external pressures subside.

? Fed market pricing pause in June, no rate cut — optimal for the run to $ 35k for… pic.twitter.com/xBnIyHK5A0

— ??? (@Negentropic_) May 12, 2023

Glassnode emphasized that although a million crypto wallets is a new industry record, it should be remembered that several people can own a BTC address at once. Also, many crypto investors have several bitcoin addresses. There are crypto wallets owned by large institutions such as crypto exchanges, investment firms, banks, etc.

According to CoinGlass, there are approximately 19 million bitcoins in circulation at the moment, with 1.89 million of these BTC worth $ 50.7 billion stored on large centralized exchanges such as Binance and Coinbase. In addition, at least 3 million BTC worth $ 80.4 billion are «lost forever.»

At the time of writing, the main cryptocurrency BTC $74,845.93 Bitcoin 0.66% Market capitalization $1.48 trillion VOL. 24 hours $4.92 billion is trading at $ 27,328, which is 1.77% higher than yesterday. The asset’s market capitalization is $ 529.4 billion. Traders made daily deals worth $ 802.7 million.