'Bitcoin millionaire' new addresses slow to grow despite bull run, JPMorgan CEO remains negative

"Despite the recent crypto bull run, the number of BTC whale addresses has been slow to recover," crypto research firm Kaiko said in a report. "Our analysis of on-chain data shows that the number of so-called 'bitcoin millionaire' addresses - those with more than $1 million in BTC - has fallen below 2,000 per day. Considering that the number of new millionaire addresses was around 4,000 per day during the last bull market, this is a slow pace of growth. This could be because new capital hasn't come in yet, or BTC whale addresses have started to realize their profits. Alternatively, it is possible that some of the larger whale addresses are storing their BTC through custodians, which may not reflect accurate data."

Meanwhile, shortly after bitcoin hit its ATH and continued to trade above $72,000, JPMorgan CEO Jamie Dimon said he would not personally buy bitcoin, according to Walter Bloomberg.