Bitcoin Goes Mainstream: One Million Wallets Hold At Least One BTC in Q1 2023
The first quarter of 2023 has been favorable for Bitcoin (BTC), which saw massive gains since the start of the year.
As a result, there has been a noteworthy rise in the number of cryptocurrency wallets holding at least one Bitcoin, with the figure coming close to one million holders.
According to data from the cryptocurrency tracking platform LookIntoBitcoin, this is a new all-time high.
‼️Almost 1 MILLION addresses hold +1 #Bitcoin – a new all-time high! 🚀 pic.twitter.com/lYYQKzKa6E
— Bitcoin Archive (@BTC_Archive) April 9, 2023
Furthermore, the crypto analytics platform Santiment reports that the total number of Bitcoin holders is increasing at the quickest pace since early 2021. Recently, the number of addresses holding any amount of Bitcoin has surpassed 46.16 million, following a similar pattern observed between January and April 2021.
💰 There is a rising rate of #Bitcoin #hodlers as traders seem to have become increasingly content in keeping their bags unmoved for the long-term. We saw a similar trend from January, 2021 through April, 2021 when $BTC rose above $64k for the first time. https://t.co/xrwNhcqVLo pic.twitter.com/wYFBsx6Css
— Santiment (@santimentfeed) April 9, 2023
The rising number of people holding Bitcoin in their wallets could be due to traders becoming increasingly content with long-term investments.
READ MORE: Bitcoin Poised for Easter Bull Run: Analysts Predict Surge to $90,000 by April 2024
At the time of writing Bitcoin’s price has increased by 3.6% in the past 24 hours to $29,150 – a 70% YTD growth.
In the first quarter of 2023, Bitcoin has outperformed the top five major indexes.
Recently, PlanB released a new long-term chart called Bitcoin Market Stages, which suggests that Bitcoin has entered a new bull market as of early 2023.
He predicts that Bitcoin will surge 100% by 2024, approaching the $55,000 – $60,000 range.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
