The number of Bitcoin millionaires has expanded since the cryptocurrency was first launched. At the same rate, the influence of cryptocurrencies, in general, has increased worldwide.
A characteristic observed in all industrial revolutions is that those who have first adopted the technologies that these times of change bring with them have become rich. When new technologies prove to be useful for society, they always generate huge profits. Of course, blockchain technology and cryptocurrencies do not escape this trend, especially when dealing with Bitcoin.
Eleven Years with Bitcoin
It has now been eleven years since Satoshi Nakamoto, the legendary creator of Bitcoin, launched the cryptocurrency’s white paper to the public. Until the present, many changes have occurred in both society and the crypto world.
Nobody would have imagined ten years ago that one day Bitcoin would be worth more than USD 10,000. Besides, it has managed to become the financial asset with the best performance of the decade. This situation has driven a revolution leading to the creation of dozens of other cryptocurrencies, each with a different function and a promising future ahead.
It should be noted that only some brave but visionary users could see the value behind the creation of Nakamoto. These investors acquired huge amounts of Bitcoin at a time when its price was rather ridiculous, thus becoming millionaire (and sometimes billionaire) almost overnight.
These are the so-called “crypto millionaires,” that is, those men and women who saw the opportunity and seized it. Since then, they have remained linked to the crypto world in one way or another. Actually, there is still a lot of potential to generate profits within the cryptocurrency market.
Number of Crypto Millionaires Increases
A proof of this potential is seen in the fact that the number of millionaires linked to Bitcoin has grown by 30% only during the last year. Only in one of the cryptocurrencies of the ecosystem, there has been an increase of one third in the number of millionaires in a year.
Users wanting to enter this list must have at least 1,000 BTC in their cryptocurrency wallets. Currently, there are 2,148 addresses in the Bitcoin Blockchain that meet this feature, and do not belong to any exchange.
Financial analyst Willy Woo believes that this increase in the number of Bitcoin millionaires is due to the entry of rich investors into the market. He says that those who are aware of the opportunities offered by the cryptocurrency want to acquire it at a time when they consider that the price is low.
There are also those who question this vision, since an increase in the number of wallets with more than 1,000 BTC does not necessarily mean an increase in BTC millionaires. It has been seen that a person with 10,000 Bitcoins can divide them into 10 different wallets.
Even considering this possibility, it is unthinkable to attribute the entire increase to this growth phenomenon. It is undeniable that there has been an increase in the number of Bitcoin millionaires, who would be taking advantage of the opportunities offered by this cryptocurrency.
By Willmen Blanco