Small Bitcoin holders have grown steadily over time at the expense of whales – especially after the collapse of FTX.
Bitcoin’s long entrenchment under $24,000 provided ample opportunity for smaller holders to increase their position sizes, on-chain data shows.
Nearly 1 million Bitcoin addresses now hold over 1 BTC, much of which was accumulated between 2021 and 2023., there are 991,670 Bitcoin addresses holding over 1 BTC as of March 29 – a number that has risen consistently since Bitcoin’s inception as more BTC entered the network. However, that figure rose especially quickly after the collapse of crypto exchange giant FTX in November, from 915,110 on November 8th to 961,756 on December 8. The event pushed Bitcoin’s price back down to $15,500 for the first time since 2020, likely giving dedicated HODLers a better chance to stack sats.in the days following FTX’s bankruptcy, indicating a broad push towards individual wallets over centralized exchange wallets.
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