Bitcoin: The number of addresses over a million dollars jumps in August

The number of addresses with at least $1 million in bitcoin increased by 10.4% during the month of August. According to available statistics, it increased from 111846 to 123482. This increase accompanies the monthly rebound of more than 20% in BTC. However, it does not reflect that 11,636 people became millionaires, because an address does not necessarily equate to a single investor.

Bitcoin rally pushes new thresholds

As of July, 111,846 addresses owned at least $1 million in BTC, while over a million accounts already held a token. Their number was around 123,482 on August 31, i.e. a progression of 11636 addresses in a month.

This development also concerns the largest portfolios. The number of addresses capitalized at more than 10 million dollars increased from 14,009 to 15,584. This group therefore obtained 1,575 additional addresses, or 11.24%.

The essential figures allow us to assess the extent of this movement:

• 123,482 addresses held over $1 million in BTC as of August 31;
• Their number increased by 11,636, or 10.4%, in one month;
• 15,584 addresses exceeded the $10 million threshold;
• Bitcoin was worth around $78,092, up 21.46% over thirty days.

This progression is largely the result of the rise in bitcoin. An address does not necessarily need to receive new BTC to exceed a threshold expressed in dollars. The increase in price is enough to increase the value of its balance.

At $78,092, almost 12.8 BTC is enough to break $1 million. Taking as a reference a price lower by almost 21.5% a month earlier, one would have to hold around 15.6 BTC. Addresses which had between these two levels could therefore become “millionaires” without acquiring new bitcoins.

A millionaire address does not always represent a person

The expression “bitcoin millionaire” must be explained with caution. Indeed, the blockchain makes it possible to count addresses and see their balance, but it does not systematically disclose the identity of their holders.

From this perspective, the same person can control various addresses. At the same time, an address that belongs to an exchange can pool the bitcoins of thousands of clients. Some addresses are also linked to companies, funds, governments or custody services.

Of the statistics mainly reveal that some of the best-endowed addresses are attributed to Binance, Robinhood, Bitfinex or Tether. Through their presence, it is impossible to confuse the number of addresses with the actual number of wealthy owners.

Internal exchange transactions also modify the statistics. Thus, the distribution of its reserves into various new addresses by an actor can increase the number of millionaire addresses without observing the arrival of new investors or the creation of additional wealth.

January level remains out of reach

Despite the increase in August, the number of wealthy addresses remains lower than that noted at the start of the year. There were then 131,125 addresses valued at more than a million dollars, compared to 123,482 as of August 31. There are still 7643 missing to get back to this level.

The same gap is observed among addresses that hold $10 million. In fact, their number was 16,355 in January, or 771 more than at the end of August.

The idea of ​​a full bull market return is qualified by this difference. Thus, BTC had its best month since November 2024, however it remains significantly below its historic peak. The number of millionaire addresses therefore remains very sensitive to price fluctuations.

To distinguish a true accumulation from a simple capitalization effect, it will be necessary to look at the balances expressed in BTC, the flows to the exchanges and the holding period. A further increase in the number of millionaire addresses would be more valuable if it were accompanied by net acquisitions, rather than just mechanically exceeding a dollar threshold.