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Home Markets Cryptos

There are now 18,000 Bitcoin millionaires

Olumide Adesina by Olumide Adesina
July 30, 2020
in Cryptos
dollars, Bitcoin has halved, what happens next?, Naira should watch out; Nigeria leads in the peer to peer use of Bitcoin than all African countries combined
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With the recent bullish rally in the world’s flagship cryptocurrency market, some global investors have grown richer within the past few weeks.

As of now, there are 18,000 BTC millionaires, or addresses containing greater than $1 million value of BTC according to data obtained from a crypto analytic firm, Glassnode

READ ALSO: Bitcoin beats $10,000 mark in 7 weeks

With $BTC's recent price increase, the number of #Bitcoin addresses holding at least $1,000,000 USD has surged by ~38% to around 18,000.https://t.co/akRiFpAg7q pic.twitter.com/fcoOcHtAPh

— glassnode (@glassnode) July 29, 2020

Recall that the wealth of many BTC investors has grown exponentially at the BTC market, as holders of more than 1000 BTCs or more (who are referred to as whales) have been increasing at a steady pace after BTC’s most recent halving that occurred a few months ago.

READ MORE: Covid-19: POS transaction value drops by N96 billion due to lock down in April

What this means: As transaction numbers in BTCs market keep hitting record highs, the number of dollars that buyers invested in $BTC just made a new all-time high. This suggests investors are raising their stakes in the flagship cryptocurrency market

Meanwhile, the flagship currency had remained above the $11,000 resistant level. Data from Coinmarketcap shows that BTC has a market capitalization of about $203.4 billion dollars with a daily trading volume standing at $25 billion.

READ: Mysterious Bitcoin whale moves 15,022 BTCs worth $162 million

Quick fact: BTC is a completely decentralized digital crypto-asset, unlike fiat currencies that you can hold in your physically there is no central authority or centralized payment system controlling BTC. Bitcoin operates in a peer-to-peer network that allows any individual in the world to send and receive Bitcoin without any middleman (like a bank, central bank, or payment processor).

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Tags: BitcoinBTCBusiness NewsCrypto MarketCryptocurrency NewsCrytocurrenciesGlassnodewhales

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