- 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.
According to reports by Kaiko Research, this phenomenon of rising Bitcoin value has led to the daily generation of approximately 1,500 “millionaire wallets”.
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.
