The number of addresses holding $1 million worth of BTC or more has taken a beating as the crypto winter rages on.
Draper reasons that when women begin to adopt Bitcoin, that’s when the price will make this moonshot movement. He says he expects it by mid-2023:
“My assumption is that since women control 80% of retail spending, and only 1 in 7 bitcoin wallets are currently held by women that the dam is about to break.” In the meanwhile, the on-chain data reveal a drastically different Bitcoin ecosystem than the one flush with capital and volume during the bubble that ended in 2021.It was a different picture in May 2021 when crypto summer was still raging. At that time, the total market capitalization of Bitcoin was $1 trillion.that the number of Bitcoin addresses with $1,000,000 or more USD worth of Bitcoin held had crossed the 100,000 threshold.Today it’s a different story.
That doesn’t necessarily mean there are that many fewer millionaires. It is possible that they have spread their holdings out over more addresses.again, with renewed interest from retail and professional investors, especially at big institutional funds, those numbers will go right back up again.
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