Bitcoin addresses holding 1 BTC or more reach one million: Glassnode

May 14. 2023

By Tom Mitchelhill

Convicted buyers have bought up cheap Bitcoin as prices fell over the course of last year.

The number of Bitcoin (BTC $27,434) wallet addresses holding one whole BTC or more has surpassed the one million mark. 

The one million wholecoiner milestone was reached on May 13, according to data from Glassnode.

Number of Bitcoin wallets holding more than 1 Bitcoin since inception. Source: Glassnode.

As the price of Bitcoin fell more than 65% over the course of last year, the number of wallet addresses holding one Bitcoin or more spiked, with the most notable surges occurring during an acute market crash in June and from November 11, the date that FTX collapsed and subsequently filed for bankruptcy.

In total, a whopping 190,000 or so “wholecoiners” were added from early February 2022 as the price of Bitcoin fell from its November 2021 highs. 

Glassnode co-founder Negentropic told his 54,000 Twitter followers that the best time to buy Bitcoin is when there’s “blood in the streets.”

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