Number of wallets holding $1,000+ BTC up 100% year-over-year

The number of addresses holding more than $1,000 in BTC is on the rise, indicating a positive growth trend, according to a report from Fidelity Digital Assets. According to the data, there were about 10.6 million wallets holding $1,000 or more in BTC in mid-March, up about 100% from 5.3 million last year. “The increase in the number of addresses holding more than $1,000 in BTC is indicative of the expanding distribution of Bitcoin and its growing adoption among the general public,” the analysts said. The number of small addresses acquiring and holding BTC is increasing despite the coin's rising price.” However, the report cautions, “It is important to note that at the end of Q1, more than 99% of Bitcoin addresses were in a profitable state based on on-chain acquisition price. An increase in the number of addresses in profit status could lead to a sell-off as 'paper-handed' (highly speculative short-term holders) traders and new investors look to realize profits.”