Bitcoin

Bitcoin Wholecoiners Up 40,000 Since June Drop Started

Smaller Bitcoin (BTC) investors have found a great opportunity to own 1 BTC during the cryptocurrency plunge. The number of “wholecoiners” has grown by 40,000 since the June drop.

Bitcoin Wholecoiners Up 40,000 Since June Drop Started 4

According to LookIntoBitcoin, the number of BTC “wholecoiners” has been steadily increasing since January 31, when the BTC price was around $38,000.

However, the price of Bitcoin fell about 27% in May and another 40% in June, the same month that saw 25,389 new wallets holding at least one Bitcoin.

The price of BTC at the time of writing is $23,031, down 64% from its ATH of $69,000 in November 2021, and the number of wholecoiners is currently at an all-time high of 891,346 on August 1, 2022.

BTC daily chart. Source: CoinCu

Cryptocurrency investor Lark Davis told his Twitter followers on Monday that “a lot of people are hitting their target of owning all of 1 BTC.”

Interestingly, the data shows that the number of wallets containing more than 10 BTC, 100 BTC, and 1000 BTC has decreased during the same period.

Wallet addresses with more than 10 BTC have only increased by 600 since May, addresses with more than 100 BTC have dropped 125, and wallets with more than 1,000 BTC have dropped 113.

Source: LookIntoBitcoin

The price of Bitcoin has been on an uptrend since mid-July; however, there are mixed opinions on whether the cryptocurrency has bottomed out or continues to fall.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.