
Bitcoin (BTC) climbs new heights and exceeds 50 million active addresses on its network. This feat reflects the growing interest in the flagship crypto, thus announcing the sustainability of its exceptional rise.
Bitcoin network surpasses 50 million active addresses
The reputation of Bitcoin is reaching new heights among both individuals and institutions. The number of active addresses has increased tenfold since 2016, a clear sign of large-scale adoption. With an average holding of around $16,000, this represents a global market of around $800 billion.
Several factors explain this massive influx. On the one hand, more and more investors consider bitcoin as a safe haven against inflation in the same way as gold. Its limited supply and its decentralized network make it an asset of choice to protect against monetary risks.
On the other hand, the proliferation of services around the bitcoin ecosystem (exchange platforms, payment solutions, derivative products, etc.) facilitates its adoption by the general public. Even large banks now offer their wealthy clients the opportunity to invest in BTC. Added to this is the upcoming arrival of the first Bitcoin Spot ETFs expected by 2024 from behemoths like BlackRock or Grayscale.
Reinforced investor confidence
With more than $850 billion in capitalization, Bitcoin has established itself as the dominant digital asset. And his meteoric rise is far from over. Indeed, the continued expansion of its user base strengthens its network effect and its resilience.
Importantly, the average amount held per user suggests immense growth potential as adoption grows. Each new follower represents additional latent capital that could explode the valuation of Bitcoin.
In short, by crossing the milestone of 50 million users, Bitcoin has proven the solidity of its fundamentals. Its growing popularity could propel it to new all-time highs in the years to come, with the $100,000 mark fast approaching. The queen of cryptos still has very good days ahead of him.
Maximize your Tremplin.io experience with our ‘Read to Earn’ program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.