There can be up to 100,000 Bitcoin millionaires now

According to bitinfocharts, a cryptocurrency data tracking company, there are now up to 100,000 people who have bitcoin worth $ 1 million or more. That’s only 25,000 Bitcoin millionaires three months ago. A year ago there were roughly 15,000 millionaire bitcoin accounts.

The main reason has to do with the very volatile price of Bitcoin, which has risen sharply recently, also because Tesla, Elon Musk’s auto company, announced it last month bought $ 1.5 billion in bitcoin. The move suggests that other companies may also decide to convert more of their unused money into Bitcoin.

The price of a Bitcoin was over $ 50,000 earlier this month and hit a high of just over $ 58,000 on Sunday. This jump in price has meant that the six-digit Bitcoin club probably reached seven-digit numbers for the first time last week, reports bitinfocharts.

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How many people have more than $ 1 million in Bitcoin is hard to say. How many Bitcoin accounts exist and how much is in each account is public data. However, it is not who owns these accounts. Multiple accounts can be operated by the same person, or an account can be operated by more than one person.

Nevertheless, according to bitinfocharts, there are now 101,554 Bitcoin accounts with a Bitcoin value of at least $ 1 million. Of these, 8,110 accounts contain more than $ 10 million worth of Bitcoin.

Still, the vast majority of Bitcoin accounts have far fewer. According to bitinfocharts, more than 55,000,000 accounts are registered on the Bitcoin blockchain, the database that tracks the cryptocurrency. According to bitinfocharts, around 45 million of these have an account value of less than 100 US dollars.

The number of Bitcoin millionaires, as well as the price of Bitcoin, is jumping around a lot. As a result, the number of people with Bitcoin net worth greater than $ 1 million could be volatile. On Tuesday, the price of Bitcoin fell more than $ 6,500 to just under $ 47,700. This followed a drop of nearly 10% on Monday from the record high on Sunday.

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Over the weekend, Musk stated that he believed the price of Bitcoin, which was $ 6,000 just 11 months ago, was likely to fall. despite his company’s recent investment. “That said, BTC & ETH seem high lol,” Musk tweeted on Saturday, referring to Bitcoin and its digital currency competitor Ethereum, the price of which has also gone up recently.

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