Despite Bitcoin (BTC) struggling to revisit the $24,000 level, the number of BTC “wholecoiners”—Bitcoin wallet that holds a whole Bitcoin—is increasing. The number of “wholecoiners” has surged by 40,000 since the June slump.
Interestingly, smaller Bitcoin (BTC) investors seem to have found an opportunity to attain their goal of owning a whole Bitcoin amid the crypto slump.
It’s not just in June that the number of “wholecoiners” has increased. In fact, the number of BTC “wholecoiners” has been rising since January 31, when the BTC price was around $38,000, according to LookIntoBitcoin. However, the price of Bitcoin fell around 27% in May and 40% in June, and the same month saw 25,389 new wallets holding at least one whole Bitcoin.
Although BTC’s current price is $23,035, down by 64% from its all-time high of $64,400 in November 2021, the number of “wholecoiners” is at an all-time high of 891,346 as of August 1, 2022.
Interestingly, the number of wallets holding more than 10 BTC, 100BTC, and 1000BTC has declined during the same period. The data shows that since May, wallet addresses with more than 10 BTC have increased only by a meager 600, addresses with more than 100 BTC have decreased by 125, and wallets with more than 1,000 BTC have decreased by 113.