How Many Bitcoin Millionaires are There

More than 13,000 Bitcoin Addresses Worth $1 Million…

According to Glassnode data, the value of more than 13,000 Bitcoin (BTC) addresses is at least $1 million.

Hold 107 BTC and become a millionaire

At current prices, to become a millionaire, you need to hold about 107 BTC in an address. Since this indicator is linked to Bitcoin‘s dollar price, it tends to fluctuate greatly. In contrast, the number of addresses containing at least 100 BTC is less volatile.

Bitcoin addresses holding ≥100 BTC and addresses holding ≥1 million USD BTC Source: Glassnode

Addresses holding large amounts of BTC

We can observe that the number of addresses with a balance of more than 1 million US dollars reached a record high in the 2017 bull market, and other indicators are basically not affected by it. Over the years, this is still one of the few very small indicators of change in the Bitcoin field.

Another possible reason is that some of these addresses are controlled by large entities, such as exchanges and custodians, who do not like to move bitcoins that have been determined to be distributed. It should also be noted that Bitcoin founder Satoshi Nakamoto may have dug more than one million bitcoins. These bitcoins have not moved for more than 10 years.

So how many Bitcoin millionaires are there? The fact is we don’t know. To be able to answer this question, we must know how many individuals or entities control these 13290 addresses. This number can theoretically be between 1 and 13,290.

Although data analysis heuristics can be applied to bitcoin addresses and transactions to reduce this number to some extent, there is currently no such complete data set available.

Reviewer overview

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Summary

According to Glassnode data, the value of more than 13,000 Bitcoin (BTC) addresses is at least $1 million.

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