The number of Bitcoin (BTC) wallet addresses holding one whole BTC or more has surpassed the one million mark.
The one million wholecoiner milestone was reached on May 13, according to data from Glassnode.
As the price of Bitcoin fell more than 65% over the course of last year, the number of wallet addresses holding one Bitcoin or more spiked, with the most notable surges occurring during an acute market crash in June and from November 11, the date that FTX collapsed and subsequently filed for bankruptcy.
In total, a whopping 190,000 or so wholecoiners were added from early-February, 2022 as the price of Bitcoin fell from its November 2021 highs.
Glassnode cofounder @Negentropic informed his 54,000 Twitter followers that the best time to buy Bitcoin is when there’s “blood in the streets.”
His comments come in the wake of numerous major bank collapses in the United States, as well as the Fed looking to potentially pause interest rate hikes in the coming months. These are some of the reasons why Glassnode said that it “remains confident” Bitcoin can reach a price of $35,000 in the mid-term.
“Buy when there is Blood in the streets.”
$25.8k still remains a possibility, as indicated by the options market
Confident in our mid-term outlook of $35k as…
