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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Addresses With At Least 1 BTC Nears A Million, BTC Steadies Above $28,000

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
Bitcoin BTC Addresses

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The number of unique Bitcoin addresses holding at least 1 BTC, currently worth $28,181 as of writing on April 3, stands at 992,243.

Bitcoin Addresses With At Least 1 BTC Stand At Near 1 Million

According to Look Into Bitcoin data, the number of holders with at least 1 BTC has steadily increased. This could suggest that despite price volatility, the coin has been finding traction and being adopted by supporters, including entities and governments.

Bitcoin Wallet Sizes More Than 1 BTC Look Into Bitcoin
Bitcoin Wallet Sizes More Than 1 BTC: Look Into Bitcoin

Parallel data from BitInfoCharts reveals that of all the circulating supply, individuals with more than 1 BTC comprise less than 3% of all addresses. As an illustration, addresses holding between 100 and 1,000 BTC stood at 14,004, representing 0.03%. Only four addresses held between 100,000 and 1 million BTC. The tracker revealed that most BTC addresses had between 0.0001 and 0.001 BTC.

Bitcoin Rich List Address Distribution
Bitcoin Rich List Address Distribution: BitInfoCharts

Bitcoin whales were mostly exchanges, with one wallet associated with Binance, a cryptocurrency exchange holding 248,597 BTC. Another by Bitfinex, one of the earliest crypto exchanges, held 178,010 BTC.

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In late October 2010, less than 60,000 unique addresses held 1 BTC. However, this has increased by almost 15X in the last 12 years, signaling acceptance. A noteworthy observation, in this case, is that the number of holders with at least 1 BTC has been steadily rising despite a sharp increment in price. 

Throughout 2020 and 2021, BTC holders kept accumulating, unfazed by rapidly increasing prices following governments’ intervention to mitigate the risks of the COVID-19 pandemic. 

In 2022, dropping prices catalyzed demand and accumulation for proponents during the last crypto winter. There was a noticeable increase in BTC addresses last year when prices tanked to as low as $15,000 in Q4 2022, triggered by the collapse of several CeFi platforms, like Voyager and Three Arrow Capital (3AC). 

The bankruptcy of crypto exchange FTX broke Bitcoin, forcing it to a 2022 low of around $15,000. Since that time, the cryptocurrency has bounced to its current levels.

Bitcoin Price On April 3| Source: BTCUSDT On Binance, TradingView
Bitcoin Price On April 3| Source: BTCUSDT On Binance, TradingView

Network Resilience And BTC Adoption

Bitcoin is a public network enabling users to move value, even across borders, without needing a third party. All BTC transactions are bundled into a block, confirmed, and sent to a different address at any time. 

In this way, users can send funds fir a low fee without the intervention of a third party, such as a bank or money transfer agency. The Bitcoin network remains one of the most resilient, with an uptime close to 100%. The network has been continuously operating since launching in early 2009.

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Bitcoin Loses $28,000 Handle – Is A Retreat In The Offing For BTC?

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El Salvador became the first country to make BTC legal tender. Other countries, including the Central African Republic, also support the coin. The United States Securities and Exchange Commission (SEC), led by Gary Gensler, also recognizes Bitcoin as a commodity.

Feature Image From Canva, Chart From TradingView
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Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

Read more

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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