Find out how the world’s 46.8 million millionaires can increase the price of Bitcoin in the near future | by Blockonomist Editorial | The capital | May 2021

Invented in 2008, Bitcoin is today a well-known decentralized cryptocurrency that allows all transactions directly between participants, without any intermediary. BTC has come a long way since its launch, reaching the # 1 position in the market.

Speaking of Bitcoin accounts, Coinbase has nearly 56 million verified accounts and has over 72 million wallets. These two alone add up to 128 million portfolios. Including other exchanges, the total Bitcoin wallets will be over 140 million.

Over the past two years, the crypto user base has grown by almost 190% globally. This is due to the increase in the number of accounts and the improvement in identification. It is now relatively easier to estimate the minimum number of users associated with different service providers because of the systematic link of accounts with the identity of the individual.

The total number of BTCs currently in existence is 18,707,480 as of May 2021, and it reported over a million unique active addresses as of May 11, 2021. Notably, Bitcoin wallets are the software that stores Bitcoins and helps to receive and send BTC to users. There can be four types of such wallets: mobile, desktop, hardware, and web. It should be known that a Bitcoin wallet or a digital wallet must be obliged to exchange Bitcoin. But, these wallets don’t store crypto; it simply stores the private keys which can be used to access Bitcoin addresses.

The price of BTC increases dramatically in a matter of months and it has even more room for growth. Its market capitalization is over $ 1 trillion, and you will be surprised that the largest amount of Bitcoin is held by Satoshi Nakamoto. Although we don’t know the exact numbers, Satoshi Nakamoto is believed to have nearly a million bitcoins. He is indeed at the top of the list of Bitcoin millionaires. Additionally, over 100,000 Bitcoin addresses meet the qualification of having over $ 1 million BTC. However, the exact number of people with more than $ 1 million worth of Bitcoin is hard to find. But, according to bitinforcharts, the precise number of accounts with more than $ 1 million BTC is 101,554. Of which, only 8,110 bitcoin accounts have more than $ 10 million BTC.

There were over 46.8 million millionaires in the world as of December 2020, and over 11 million millionaires are from the United States alone. Compared to the number of millionaires, Bitcoin accounts with millions of BTC are relatively smaller in number. In addition, it is not always necessary that all account holders are unique, i.e. a person can have more than one Bitcoin account, which is often done to facilitate risk management. and also helps to improve privacy. So that would mean that the actual number of BTC millionaires is indeed less than 101,554. It would certainly suggest that not all millionaires in the world are still in digital gold and that crypto prices can rise dramatically if they start. to convert their fiat to BTC.

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