450,000+ BTC Addresses Now Hold $100K as Bitcoin Economy Thrives in 2024
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Bitcoin’s value has surged, creating significant milestones and broadening interest, leading to a substantial increase in Bitcoin addresses with balances over $100,000. The cryptocurrency market has shown a diverse range of holders, from individual investors to government reserves. Notable investors like Charlie Munger emphasize the importance of initial capital accumulation as a baseline for future wealth creation. Find out the current state of Bitcoin holdings and the demographics of its investors amidst rising market trends. Bitcoin Addresses Surpassing $100,000 Hits New Milestone The dawn of 2024 marked a significant achievement in the Bitcoin economy, with over 450,000 Bitcoin addresses holding at least $100,000 worth of BTC. This milestone has only been reached twice before, once during the 2020 halving super cycle and again in 2021. This recent accomplishment not only reflects Bitcoin’s price increase but also the growing confidence and participation in the cryptocurrency market. Distribution of Bitcoin Holdings Bitcoin’s allocation shows the cryptocurrency’s broad acceptance across different investors. Data reveals that out of the 19.7 million Bitcoins mined, more than half—approximately 11.97 million BTC—are held by individuals. Notably, the enigmatic creator Satoshi Nakamoto is believed to own around 1.1 million BTC. Governments collectively hold about 565K BTC, while hedge funds and ETF issuers possess approximately 818K BTC. This distribution underscores Bitcoin’s role as a diverse investment vehicle catering to various institutional and individual interests. Millennial Participation in the Bitcoin Market Survey data suggests that Millennials, those born between 1981 and 1996, are significant participants in the Bitcoin market. According to a study published by Bankrate, Millennials constitute about 57% of current cryptocurrency ownership. Given the present Bitcoin prices, this translates to roughly 256,500 Millennial investors holding BTC worth $100,000 or more. This demographic’s strong presence indicates a robust future potential for Bitcoin adoption as they continue to shape the…
Filed under: News - @ August 10, 2024 11:10 pm