Bitcoin Wholecoiner Wallets Surpass One Million
The number of Bitcoin (BTC) wallet addresses holding one full Bitcoin or more has officially surpassed one million, marking a significant milestone for the world’s largest cryptocurrency.
According to blockchain analytics firm Glassnode, the “one million wholecoiner” mark was reached on May 13, 2023. The achievement underscores growing confidence among long-term holders, even as Bitcoin’s price remains volatile.
One Million Mark Reached Amid Market Uncertainty
Glassnode’s data shows that the number of addresses holding at least one BTC surged throughout 2022, despite Bitcoin losing more than 65% of its value during the year. Two major spikes occurred during market stress — one in June 2022 during a severe downturn and another in November following the collapse of FTX.
From early February 2022 until now, roughly 190,000 new wholecoiner wallets have been added, illustrating how many investors used market fear to accumulate more BTC.
“Buy When There’s Blood in the Streets”
Glassnode co-founder Negentropic highlighted this accumulation trend, telling followers that the best buying opportunities arise during market fear.
“$25.8K still remains a possibility, as indicated by the options market,” Negentropic said, maintaining confidence in a mid-term target of $35,000 once external pressures ease.
His comments came amid a series of U.S. bank failures and growing speculation that the Federal Reserve may pause its rate hikes — developments that many see as bullish for Bitcoin’s long-term prospects.
Not Every Wallet Equals One Person
While the milestone reflects strong growth in Bitcoin ownership, analysts caution that not every wallet represents an individual. Many users hold multiple addresses, and large institutional players like exchanges control massive wallet clusters.
Data from CoinGlass indicates that around 1.89 million BTC — worth roughly $50.7 billion — are currently stored on centralized exchanges such as Binance and Coinbase.
Meanwhile, Glassnode estimates that about three million BTC — around 17% of the circulating supply — are likely lost forever, held in inaccessible wallets or sent to burn addresses.
A Signal of Growing Confidence
Despite volatility and regulatory pressure, Bitcoin’s expanding base of wholecoiners suggests that retail and institutional confidence remains resilient. The one-million milestone reinforces Bitcoin’s enduring appeal as a long-term store of value and a hedge against economic uncertainty.
