Despite Bitcoin’s historical price volatility, the number of addresses holding at least one BTC has seen a largely linear growth pattern over the past decade.
There are now 784,149 Bitcoin addresses holding a minimum of one full BTC, according to Glassnode, an on-chain market intelligence firm.
Crypto analysts are pointing to the metric as evidence of Bitcoin’s enduring strength despite media narratives that sometimes argue otherwise.
Strong growth of addresses with balance of >= 1 BTC compared to >= 0.1 BTC
Steady accumulation despite the media saying crypto is dead pic.twitter.com/f8I1vC3C8R
— Alex Gedevani ? (@Alex_Ged) January 19, 2020
There are more than twice as many addresses with more than one BTC than there were in early 2015. There is also nearly an 11% increase year-over-year from the 707,000 Bitcoin addresses with more than one BTC in early 2019.
Additionally, the number of Bitcoin addresses holding between 0.1 and 1 BTC rose by an almost-identical percentage from 2019 to 2020.
It should be noted that one investor could hold a vast array of BTC addresses, meaning the total number of Bitcoin addresses does not necessarily equal the number of Bitcoin investors.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/wacomka