The industry is gradually recovering from a harsh winter and continues to grow and evolve. It is in this context that Bitcoin (BTC) has recorded an impressive price increase of 70% since the beginning of the year. The queen of cryptocurrencies has not only seen its price increase, the number of its holders has also increased significantly. This shows that Bitcoin adoption is only growing.
Increased number of wallets holding at least 1 BTC
The number of crypto wallets holding at least one bitcoin recently hit a new all-time high. Today, almost a million holders have at least 1 BTC in their crypto wallet. According to finbold, the data would come from LookIntoBitcoin, a cryptocurrency tracking platform. They were shared on Twitter by the account named Bitcoin Archive on April 9.
In addition, we learn from Sanimenta cryptocurrency analysis platform, that the total number of bitcoin holders has grown at the fastest rate since the start of 2021. Recall that that year, the price of BTC exceeded $69,000 for the first time since its launch in 2009.
What future after this massive Bitcoin adoption?
The most optimistic would say that we can expect a bull run in mid 2023 or so at the end. Santiment explained that the increasing rate of people “holding” bitcoin in their wallets could be because crypto traders are apparently “ increasingly satisfied with keeping their baskets still for the long term“.
So, perhaps there’s no need to leap for joy and claim victory for the industry over this further adoption of Bitcoin. The crypto might get some help from one of the candidates in the upcoming US presidential election. Democratic candidate and environmental lawyer Robert F. Kennedy Jr. warns against the CBDVS. These central bank digital currencies made to replace crypto.
Around the world, the industry is struggling to survive. In the United States particularly, the stock market policeman and the central bank are doing everything to wring neck to cryptocurrencies. Could a bull market following the mass adoption of bitcoin help reduce the pressure on the crypto industry?
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