The fact that over a million BTC addresses now hold at least 1 BTC is significant. This milestone represents a substantial portion of the total supply and suggests that more individuals and institutions are viewing Bitcoin as a long-term store of value. The involvement of institutions like MicroStrategy, which continues to accumulate Bitcoin, adds further weight to this narrative.
Historically, the number of addresses holding significant amounts of Bitcoin has lagged behind price movements. However, the apparent reversal of this trend might indicate growing confidence in Bitcoin’s future. It’s possible that this accumulation is driven by a belief in Bitcoin’s long-term potential, with investors seeing it as a hedge against inflation, economic uncertainty, or the potential for fiat currency devaluation.
On the other hand, it’s also plausible that whales and large investors are positioning themselves ahead of the next bull run. Accumulating Bitcoin at current levels could be a strategic move, anticipating a future price surge as adoption increases and supply remains limited.
In summary, the growing number of addresses holding 1 BTC or more likely reflects a combination of both long-term confidence in Bitcoin and strategic accumulation by large investors. Whether this signals the start of another bull run or simply a stronger foundation for Bitcoin’s future remains to be seen, but it undeniably points to a deepening commitment to Bitcoin within the crypto community.