Mar 01, 2023

50 BTC Hodlers Rejoice as Bitcoin Crosses $20,000

The on-chain analytics firm Glassnode has revealed that there are currently more than 67,000 Bitcoin (BTC) wallets with a balance worth $1 million or more. The data further reveals that when the BTC price crosses the $20,000 mark, a large number of hodlers either gain or lose U.S. dollar millionaire status.

The $20,000 price tag has been a significant milestone in Bitcoin’s history since it became the all-time high of Bitcoin’s previous halving cycle. In late 2022, when Bitcoin fell below $20,000 in the wake of the FTX scandal, “millionaire” wallet numbers plummeted overnight. However, when BTC/USD reclaimed the $20,000 mark in January this year, those wallets reappeared in large numbers.

On Jan. 13, when BTC/USD was just under $20,000, there were around 27,000 wallets with a balance worth $1 million or more. On Jan. 14, when price traded just $1,000 higher, that wallet cohort had increased to 65,000.

The data from Glassnode also shows that hodlers’ fortunes have increased dramatically in the first months of 2023. The number of so-called “wholecoiners” — wallets with a balance of at least 1 BTC — is now tracking towards the 1 million mark for the first time in Bitcoin’s history. As of Feb. 28, there are 982,726 such wallets.

The increase in the number of Bitcoin millionaires and wholecoiners indicates that more people are investing in the cryptocurrency, and are confident in its long-term potential. This suggests that Bitcoin is likely to remain a popular asset for investors and traders in the future.

The rise of Bitcoin millionaires and wholecoiners has also led to an increase in the demand for NFTs and other digital assets. As a result, NFT marketing agencies and web3 agencies are becoming increasingly popular, as they help to promote and sell digital assets.

These agencies specialize in using Twitter NFT marketing to reach potential buyers and investors. They also use other marketing strategies, such as email marketing and social media advertising, to promote NFTs and other digital assets.

The demand for NFTs and other digital assets is likely to continue to increase in the future, as more people become aware of the potential of these assets. As such, NFT marketing agencies and web3 agencies are likely to continue to be in high demand.

Disclaimer: All investment or financial opinions expressed by MoonLanding Media are not recommendations and are intended for entertainment purposes only. Do your own research prior to making any kind of investment. This article has been generated based on trending topics, has not been fact checked and may contain incorrect information. Please verify all information before relying on it.