There are more and more Bitcoin millionaires today

The second quarter started favorably for Bitcoin. The price of Bitcoin has increased by 80% since the beginning of this year. Bitcoin was even able to overcome the psychologically important milestone of $31,000. Despite the subsequent correction, the market believes that Bitcoin has the potential for further growth. The favorable background of the cryptocurrency market has led to the fact that the number of Bitcoin millionaires has also grown.

The number of Bitcoin millionaires continues to grow

In the first 2 weeks of April alone, over 50,000 new users appeared who own $1 million worth of Bitcoins. So, on April 14, the indicator was 80,659, which is 187% more than on January 5.

On the balance of 74,912 addresses, Bitcoins worth more than $ 1 million are placed, another 5,747 addresses contain assets worth more than $ 10 million.

The number of Bitcoin millionaires is growing, and their number may increase even more, as forecasts are made by reputable analysts that the price of Bitcoin may rise to $ 40,000 and higher. In particular, Galaxy Digital CEO Mike Novogratz believes that after the end of the US Federal Reserve’s interest rate hike cycle, Bitcoin could grow to $40,000 in the medium term.

Thus, the price of Bitcoin leads to the fact that the number of Bitcoin millionaires continues to show positive dynamics.

Will the number of Bitcoin millionaires continue to grow in the short and medium term

In general, this indicator will be influenced by the general situation in the cryptocurrency market. If the price of Bitcoin continues to rise, then we should expect an increase in the number of Bitcoin millionaires.

If the value of Bitcoin decreases, then their number will decrease. At the same time, it should be noted that Bitcoin is becoming an increasingly important tool for hedging risks in the market.

Investors perceive Bitcoin not just as another asset in their portfolios, but as a kind of safe haven against the background of the permanent banking crisis in the US and the EU.

This is the main change in the market situation. Even if the price of Bitcoin will decline in the short term, it will not lead to the fact that the interest in it from investors and traders will change for the worse.