More BTC Millionaires Pop Up Recently
The most recent data shows a curious thing: the number of addresses, having more than 1,000 BTC is growing, and not just growing, but the amount is increasing according to the same pattern as in the 2014th. Is it a coincidence or a new algorithm?
Why BTC Millionaires Appeared
According to the well-known in the field statistician W. Woo and his analytics dated Oct. 11th, the growth of the network and the amount of the millionaires is developing according to the same pattern as it did in the early years, when BTC was, so to say, “fresh and young”. He also sums up that the growth matches the one in 2014th. Woo’s summary is based on the data, provided by blockchain analysis resource Glassnode. So there’s no reason not to trust this information.
But on the contrast with the motives in the 2014th, when the whole development of the field was based on the technical curiosity and open-minded enthusiasts, now the motivation of these new BTC millionaires is purely financial, nothing more. In other words, the market starts being invaded by wealthy players. Woo says that in his opinion now we can observe a BTC renaissance. It became possible because of capital influx of high net worth. It means that rich guys started having a closer look at BTC and crypto industry. Where it will end up? Time will show.
BTC Reaches New TOPs
BTC has hit a couple of TOPs at the same time. For example, there is now the highest amount of addresses with $100,000 equivalent. The number of addresses, holding more than 1,000 BTC, is also all-time high and Reaches the point of 3 thousand. Still it is just a small part, less than 0.01% from the total that shows an increadible potential for the industry growth. And it is really amazing.