Bitcoin Wholecoiners Stay Above 1 Million for 13 Months: A Sign of Growing Adoption?

The number of Bitcoin (BTC) wholecoiners, or addresses holding one or more BTC, has remained above 1 million for over a year, indicating a potential trend in Bitcoin adoption. This milestone was first reached in May 2023, when Bitcoin was trading at $27,000. Despite Bitcoin's price doubling since then, the number of addresses holding at least one Bitcoin has remained relatively stable, with over 1 million wallets holding one BTC or more. It's important to remember that one Bitcoin wallet address doesn't always equate to one individual. Many investors hold multiple addresses, and large institutions like exchanges and investment firms also hold substantial amounts of Bitcoin. Additionally, a significant portion of Bitcoin is estimated to be lost forever, which further impacts the circulating supply. Despite these factors, the continued presence of over 1 million Bitcoin wholecoiners suggests a growing level of adoption and interest in the cryptocurrency.