- Bitcoin’s recent rise has generated 1,500 new daily million-dollar portfolios, still below the peaks reached in 2021.
- Despite the approval of Bitcoin ETFs and growing interest, daily million-dollar portfolio formation does not exceed 2021.
The recent surge in Bitcoin’s value has been the catalyst for the creation of 1,500 new wallets worth at least $1 million every day, although this is below the records achieved in previous bullish waves.
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According to reports by Kaiko Research, this phenomenon of rising Bitcoin value has led to the daily generation of approximately 1,500 “millionaire wallets”.
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Although the approval of Bitcoin exchange-traded funds (ETFs) promised to further boost the market by attracting a new segment of interested investors, the frequency with which new million-dollar portfolios are being created has yet to exceed the numbers recorded in 2021.
During that period of exceptional growth, nearly 4,000 portfolios were reaching the $1 million threshold daily, with March 1 standing out as the day with the highest number of portfolios reaching this mark, with 1,691.
This observation underscores a slowdown in the rate of new million-dollar wallet generation compared to the previous period, despite the continued growth and acceptance of Bitcoin in financial markets globally, as we have detailed in ETHNews.
Bitcoin’s price recently hit $71,608.38 USD, marking an increase of $3,000.20 (4.37%). Looking at the 52-week range, Bitcoin has shown an impressive range of $23,964.91 to $72,460.30.