More than 123000 addresses exceed one million dollars

Bitcoin Millionaire Addresses Jump 10.4% In One Month

14h05 ▪5min read ▪ byLuc Jose A.
Getting informed▪Bitcoin (BTC)Summarize this article with:

The number of addresses holding at least one million dollars in bitcoins increased by 10.4% during the month of August. According to available statistics, it rose from 111846 to 123482. This increase accompanies the monthly rebound of more than 20% of BTC. However, it does not mean that 11636 people became millionaires, because an address does not necessarily equate to a single investor.

In brief

• The number of Bitcoin millionaire addresses increased by 10.4% in August, rising from 111846 to 123482.
• The monthly rebound of more than 20% of BTC largely contributed to this increase.
• Addresses holding more than 10 million dollars also increased, reaching 15584.
• Exchanges, companies, and other major players can control multiple Bitcoin addresses.
• Despite the August increase, the number of millionaire addresses remains below the January level.

The Bitcoin rally breaks new thresholds

At the end of July, 111846 addresses held at least one million dollars in BTC, while more than one million accounts held one token. Their number was about 123482 on August 31, representing an increase of 11636 addresses in one month.

This evolution also concerns the largest wallets. The number of addresses capitalized at more than 10 million dollars rose from 14009 to 15584. This group therefore gained 1575 additional addresses, or 11.24%.

Key figures allow us to assess the scale of this movement :

• 123482 addresses held more than one million dollars in BTC as of August 31 ;
• Their number increased by 11636, or 10.4%, in one month ;
• 15584 addresses exceeded the threshold of 10 million dollars ;
• Bitcoin was worth approximately 78092 dollars, up 21.46% over thirty days.

This increase is largely due to the rise in Bitcoin. An address does not necessarily need to receive new BTC to cross a threshold expressed in dollars. The price increase alone is enough to raise the value of its balance.

At a price of 78092 dollars, nearly 12.8 BTC are needed to surpass one million dollars. Using as a reference a price nearly 21.5% lower one month earlier, about 15.6 BTC had to be held. Addresses holding between these two levels could thus become “millionaires” without acquiring new bitcoins.

A millionaire address does not always represent a person

The expression “bitcoin millionaire” must be explained with caution. Indeed, the blockchain allows the counting of addresses and viewing their balances, but it does not systematically disclose the identity of their holders.

From this perspective, the same person can control various addresses. At the same time, an address belonging to an exchange can group the bitcoins of thousands of clients. Some addresses are also linked to companies, funds, governments, or custody services.

Statistics mainly reveal that some of the best-endowed addresses are attributed to Binance, Robinhood, Bitfinex, or Tether. Through their presence, it is impossible to confuse the number of addresses with the actual number of wealthy owners.

Internal transactions of exchanges also alter the statistics. Thus, the distribution of their reserves into various new addresses by an actor can increase the number of millionaire addresses without any observation of new investors arriving or additional wealth being created.

Your 1st cryptos with BinanceThis link uses an affiliate program.

The January level remains out of reach

Despite the rise in August, the number of wealthy addresses remains below that observed at the beginning of the year. At that time, there were 131125 addresses valued at more than one million dollars, compared to 123482 as of August 31. There are still 7643 addresses missing to reach this level again.

The same gap is observed among addresses holding 10 million dollars. Indeed, their number was 16355 in January, which is 771 more than at the end of August.

The idea of a full return of the bull market is nuanced by this difference. Thus, BTC had its best month since November 2024, but it remains well below its all-time high. The number of millionaire addresses therefore remains very sensitive to price fluctuations.

To distinguish a true accumulation from a mere capitalization effect, one will need to look at balances expressed in BTC, flows to exchanges, and the holding duration. A new increase in the number of millionaire addresses would have more value if it were accompanied by net acquisitions, rather than just mechanically surpassing a dollar threshold.

Maximize your Cointribune experience with our “Read to Earn” program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.

A
A
Lien copié
Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d’une certification consultant blockchain délivrée par Alyra, j’ai rejoint l’aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l’économie, j’ai pris l’engagement de sensibiliser et d’informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu’elle offre. Je m’efforce chaque jour de fournir une analyse objective de l’actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Source: www.cointribune.com