During the year, the number of Bitcoin wallets with a balance of $1 million or more decreased fivefold

The number of "millionaire cryptocurrency wallets" has sharply decreased since last November. But the owners of BTC are in no hurry to part with the assets.

Here's What We Know

According to Cointelegraph, there are approximately 23,200 cryptocurrency wallets that hold $1 million or more worth of Bitcoin at the moment. On November 8, 2021, there were about 112,900 such addresses.

Naturally, the key reason for such a sharp decrease in the number of "millionaires" is the fall in the value of the cryptocurrency. Now the price of BTC is $16,500, while a year ago Bitcoin reached a historical maximum, rising to $69,000.

However, during the year, owners were in no hurry to sell their assets. Moreover, after the collapse of FTX exchange users began to store more BTC. In particular, on November 27 the number of wallets with at least 1 BTC on the balance amounted to about 952,000, which is a historical record.

Source: Cointelegraph