Bitcoin 'Wholecoiners' Exceed 1 Million for 13 Months Despite Market Volatility

According to Glassnode data, for 13 consecutive months, the number of Bitcoin addresses holding one or more BTC has surpassed 1 million, demonstrating remarkable resilience amid market volatility.

Bitcoin 'Wholecoiners' Maintain Over 1 Million Addresses for 13 Months Amid Market Fluctuations

The number of Bitcoin whole-coiners has remained above one million for over a year despite fluctuations in the crypto market.

For the past 13 months, the number of Bitcoin "wholecoiners," addresses containing one or more BTC, has maintained a value of more than 1 million.

According to data from Glassnode (via Cointelegraph), the one million "wholecoiner" milestone was initially achieved on May 13, 2023, when Bitcoin traded at a mere $27,000.

According to Glassnode, the number of whole-coiner wallet addresses peaked on January 1 this year, with just over 1,024,000 wallets holding one or more Bitcoin.

The number of wallet addresses holding one Bitcoin or more is 1,010,800, despite Bitcoin's price doubled in May 2023. This information was last updated on June 28.

It is important to note that a single Bitcoin wallet address does not always correspond to a single individual, even though the round number "one million" indicates a significant increase in Bitcoin ownership.

Numerous cryptocurrency investors possess multiple Bitcoin addresses, while others are associated with significant institutions, such as investment firms and cryptocurrency exchanges, that typically possess substantial Bitcoin holdings.

Out of the 19.7 million Bitcoins in circulation, 2.48 million, worth $152 billion, are held on major centralized exchanges like Binance and Coinbase.

Glassnode Reports 3 Million BTC Lost Forever, Reflecting 17% of Total Supply Amid Market Swings

In addition, Glassnode estimates that a staggering 3 million BTC, valued at $80.4 billion and representing 17% of the total circulating supply, are "lost forever."

Satoshi Nakamoto's wallet address was the sole wallet address that contained more than one Bitcoin at the time of Bitcoin's initial launch on January 3, 2009.

As of the commencement of 2010, this figure had rapidly expanded to 30,000 and continued to grow at an accelerating rate over the subsequent eight years.

At times, Bitcoin whole-coiner wallet addresses have also experienced a substantial decline, with a decrease of 30,000 or more.

This has occurred on three separate occasions: once between March and May 2016, once between September and December 2018 during the depths of a persistent bear market, and once more between February and July 2021 during an abrupt sell-off following meteoric rally months prior.

Photo: Microsoft Bing