The cryptocurrency market was boosted by the latest rally initiated by the leading crypto Bitcoin. Currently, Bitcoin’s rise can be attributed to several factors. In particular, the first spot Bitcoin ETF approval is one of them. This expectation served as a major catalyst for the ongoing rally. Meanwhile, analysts argue that Bitcoin’s current momentum could lay the foundation for the potential biggest bull run in its history. In this environment, Binance CEO Changpeng Zhao warns of FOMO.
Bitcoin millionaires broke a record, Binance CEO warned!
cryptokoin.comAs you follow from, Bitcoin (BTC) was traded in the green zone last week. For now, it is consolidating below $37,000. However, the leading cryptocurrency is trying to rebound from the decline in 2022 and rise towards a new all-time high. Along with the revival in its value, Bitcoin is also spurring an increase in millionaire holders.
According to a report from Finbold, the number of Bitcoin millionaires as of November 12 was 88,628. This marks a significant increase of 60,544 from the 28,084 millionaires recorded on January 5. This increase in Bitcoin millionaires represents a threefold increase by 2023, equating to a significant 215% growth.
This report also attracted the attention of Binance CEO Changpeng Zhao (CZ). The boss of the world’s largest cryptocurrency exchange warned market players by referring to this report. In this context, Binance CEO shared the following on his X account:
This is probably based solely on on-chain data. But please don’t FOMO. More than 60,000 Bitcoin millionaires emerged in 2023, a 3x increase since January.
The number of millionaires is directly linked to the rise in BTC price
Looking at millionaires, the number of addresses holding at least $1 million in Bitcoin is 81,962, while the number of addresses with assets worth at least $10 million is 6,666. In comparison, the number of Bitcoin millionaires on January 5, 2023 was 28,084. Among them, 24,279 addresses held at least $1 million worth of BTC. In comparison, 3,805 addresses held at least $10 million worth of Bitcoin, according to data accessed through the Wayback Machine web archive tool.
The surge in Bitcoin millionaires is linked to a surge in the price of BTC, which has pushed the cryptocurrency to $37,000 after remaining below the $30,000 threshold for most of the year. In January, Bitcoin millionaires were a very special group, struggling with the bearish trends prevailing in the market. Particularly during that period, Bitcoin faced challenges from macroeconomic conditions and events such as the collapse of FTX.
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