Bitcoin: former millionaires ruined by the fall of BTC

Fortunes are made and broken – To say that a little over a year ago, in May 2021, even a memecoin like Dogecoin (DOGE) was making millionaires. How distant that time seems to us today. Because even on the side of the king of cryptos, new millionaires were quickly disillusioned. Going from a high of $69,000 to under $20,000 in a matter of months, Bitcoin (BTC) made a good number of investors return below the million dollar mark.

Hecatomb among Bitcoin millionaires

Even if a BTC address is not necessarily attached only to one person, or that conversely a person may have several addresses, the fact that it contains for more than $1 million in bitcoins gives a good idea of ​​the number of BTC millionaires. Or at least an idea of the evolution of their number.

As Cointelegraph reports, in mid-November 2021, there were thus more than 108,000 addresses on the Bitcoin network that had at least $1 million worth of BTC. It must be said that the latter was then evolving around 68,000 dollars.

At the beginning of July 2022, it is no longer the same story. As shown in the BitInfoCharts data below, only 25,675 addresses now exceed one million dollars in Bitcoin. Among them, 4,274 still manage to top $10 million.

Distribution of Bitcoin addresses according to their number of BTC and their value in US dollars – Source: bitinfocharts.com

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More owners of at least 1 BTC all round

Good news in bad news, more modest investors profit the fall in prices to succeed in acquiring their symbolism a whole bitcoin.

Still thanks to the BitInfoCharts data, we can see that addresses with at least 1 BTC were counted exactly in the number of 649,596 1 year ago.

According to figures as of July 4, 2022, there would now be 729,309 addresses with a whole bitcoin or more. Or an increase of +79,713 “bitcoinaires”.

Obviously, and as with the millionaires above, the same person can have several BTC fragments spread over several addresses or an address belongs to several people. So these numbers should be taken as orders of ideas.

If yesterday’s Bitcoin millionaires have (temporarily?) lost their status today, investors billionaires are of course those who lost the most, or at least, the most unrealized losses if they did not sell. However, the situation does not worry more than that. Michael Saylor, CEO of MicroStrategy who continues to HODL no matter what.

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