Benzinga - by Mehab Qureshi, Benzinga Staff Writer.
Bitcoin (CRYPTO: BTC) shattered the key $40,000 resistance level in 2023, boasting a remarkable 150% surge and minting numerous cryptocurrency millionaires in its wake.
What Happened: According to Bitinfo data, the tally of Bitcoin addresses holding a minimum value of $1 million soared to 90,366, marking a staggering 221% increase from the outset of 2023.
Data retrieved on Jan. 5, 2023, indicated a meager 28,084 Bitcoin millionaire addresses. Within this cohort, 24,279 addresses possessed at least $1 million in BTC, while 3,805 addresses boasted holdings valued at an astonishing $10 million or more. This information was sourced from BitInfoCharts/Wayback Machine.
Current data reveals that over 7,497 addresses now harbor holdings valued at or exceeding $10 million.
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Why It Matters: This development coincides with speculations swirling around the potential regulatory approval for a Bitcoin spot exchange-traded fund (ETF), a move that could usher in a wave of institutional investment into the leading cryptocurrency.
Noteworthy applicants for the ETF include BlackRock Inc., Grayscale Investments, ARK Invest, and 21 Shares.
Presently, Bitcoin is trading at $43,640, witnessing a notable weekly surge surpassing 5%, despite a marginal correction of under 1% in the past day.
Price Action: At the time of writing, BTC was trading at $43,130, down 0.25% in the last 24 hours, according to Benzinga Pro.
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