The total number of bitcoin addresses holding 1 BTC or more exceeds 1 million

The milestone of one million Bitcoin addresses holding at least one BTC was reached on May 13, 2023, a testament to the growing adoption and distribution of Bitcoin among individual holders.
 

The increase in the number of ‘wholecoiner’ addresses, as they are colloquially known, was particularly notable during periods of market downturns. For instance, the number of such addresses surged during the market crash in June 2022 and following the collapse of the FTX exchange in November 2022. This trend suggested that many investors saw price dips as buying opportunities, adding to their holdings or entering the market for the first time.
 

The milestone also highlighted the decentralized nature of Bitcoin ownership. While some addresses may belong to institutions or represent multiple individuals, the fact that one million addresses held a full Bitcoin or more underscored the widespread nature of Bitcoin’s appeal across different investor profiles.
 

Despite this decentralization, it’s important to note that a significant portion of Bitcoin’s supply is still concentrated. Only 7% of the total Bitcoin supply is distributed among the nearly 46.5 million addresses holding some Bitcoin but less than one, while the remaining 93% is held by the one million addresses owning a full Bitcoin or more. This distribution reflects both the early-stage accumulation by Bitcoin ‘whales’ and the ongoing process of wealth distribution as more investors join the network.