80,000 Bitcoin millionaires wiped out in the great crypto crash of 2022

Over 80,000 Bitcoins (BTCInvestors have had their millionaire status revoked due to the slump in the crypto market, but as prices fall, the total number of moneyers has increased.

Back on November 12th, a few days after Bitcoin Record the highest ever Of the approximately $ 69,000, a total of 108,886 BTC addresses reported more than $ 1 million, according to BitInfoCharts data.

Fast forward today at Bitcoin prices Struggling to maintain over $ 20,000Only 26,284 addresses are reported to contain holdings worth more than $ 1 million. This means that the number of paper millionaires has fallen by more than 75% in the last nine months.

The dramatic drop in prices of major cryptocurrencies has also affected the number of whales whales boasting a Bitcoin wallet worth over $ 10 million. There were 10,587 addresses with a minimum cash value of $ 10 million last November, but only 4,342 today hold the same status, down 58%.

Despite the decline in the previous BTC millionaire’s net worth, the bear market has added over 13,000 new “hole coiners” (wallets containing one or more BTC) to the market, with a total of just over 860,000 hole coiners. I did. This significant surge in the total number of moneyers suggests that private investors are accumulating large amounts of BTC while prices are falling.

Adding more credibility to the story of retail accumulation, more than 250,000 addresses have added 0.1 BTC, $ 2,000 at the time of writing, or even more to the last 20 days of holdings. according to To the data from the Glass node.

Related: 71% of HNWIs Invest in Digital Assets: Survey

Bitcoin and other digital asset markets have been adversely affected by a variety of issues, including increased regulatory oversight, continued geopolitical instability, rising inflation and higher interest rates.

Due to increasing uncertainty regarding the stability of the global market Commentators seem to agree The price of risky assets like Bitcoin can continue to suffer for longer periods of time.

At the time of writing, Bitcoin has changed trading at $ 20,005, down 1.63% in the last 24 hours and 37% in the last 30 days, to a market capitalization of $ 382 billion, according to CoinMarketCap data.