Bitcoin Millionaires Set to Explode in 2023 With Rising Prices

The bear market isn’t just making people unhappy in the crypto ecosystem. According to a report by Finblod, 60,544 Bitcoin (BTC) holders became millionaires on November 12, 2023. This increase is linked to the rise in Bitcoin’s price, driven by institutional adoption of the asset.

Bitcoin makes thousands of millionaires in 2023

Bitcoin’s potential as a viable investment asset is becoming increasingly clear. According to a report from Finblod, the number of Bitcoin (BTC) millionaires tripled in 2023. The number of Bitcoin millionaires now stands at 88,628, up from 28,084 on January 5, 2023. In less than a year, 60,544 Bitcoin holders have become millionaires for the first time.

As of November 12, the number of Bitcoin millionaires stood at 88,628, a substantial increase of 60,544 on the 28,084 millionaires reported on January 5.

Finbold

The majority of Bitcoin millionaires (BTC) are just starting out in this category. Indeed, the number of addresses holding between $1 and $10 million in Bitcoin stands at 81,962. Millionaires with more than $10 million in assets number 6,666.

Bitcoin price on the rise thanks to institutional enthusiasm

The increase in the number of Bitcoin (BTC) millionaires is linked to the rising price of this asset. While Bitcoin was worth almost $17,000 on January 5, the queen of cryptocurrencies is trading slightly above $37,200 today. This represents growth of over 120%.

This meteoric growth in Bitcoin is being driven by institutional interest in the asset, says Finblod.

Long hesitant due to regulatory pressure, institutional investors are increasingly interested in Bitcoin (BTC). Should these applications be approved by the SEC, the rise in Bitcoin’s price could continue.

The meteoric rise in the number of Bitcoin (BTC) millionaires is another indicator of this asset’s performance. Yes, Bitcoin doesn’t make millionaires so easily and in a matter of days. However, this asset is one of the best assets for those who want to reach the million-dollar mark. Of course, this is not an encouragement to invest!