More than one million different Bitcoin wallet addresses now contain one bitcoin or more.
Data from Glassnode shows that on May 13, the milestone of one million wholecoiners was reached.
The number of wallet addresses holding one or more Bitcoins increased as the price of Bitcoin dropped more than 65% over the course of last year, with the most notable increases occurring during a severe market crash in June and starting on November 11 when FTX collapsed and subsequently filed for bankruptcy.
Since early February 2022, when the price of Bitcoin began to decline from its peak in November 2021, a staggering 190,000 or so wholecoiners have been added.
The co-founder of Glassnode, @Negentropic, advised his 54,000 Twitter followers that the greatest time to purchase Bitcoin is when there is “blood in the streets.” His comments come in the wake of numerous major bank collapses in the United States, as well as the Fed looking to potentially pause interest rate hikes in the coming months.