Know how the world's 46.8 million millionaires can boost up the price of Bitcoin in the near future

Know how the world's
46.8 million millionaires can boost up the price of Bitcoin in the near future
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Invented in 2008, Bitcoin is now a well-known decentralized cryptocurrency that allows all the transactions directly between the participants, without any intermediate. The BTC has come a long way since its launch reaching at #1 position in the market.

Talking about the Bitcoin accounts, Coinbase has almost 56 million verified accounts, and has more than 72 million wallets. Only these two sum up to 128 million wallets. Including other exchanges, will sum up the total Bitcoin wallets to be more than 140 million.

In the recent two years, the user base of crypto has increased by nearly 190% worldwide. It is due to the increase in the number of accounts and improvements in the identification. It is now relatively easier to estimate the minimum users associated with different service providers because of the systematic linkage of accounts to the individual's identity.

The total number of currently existing BTC is 18,707,480 as of May 2021, and it has reported more than 1 million unique active addresses as of May 11, 2021. Notably, Bitcoin wallets are the software that store Bitcoins and help in receiving and sending BTC to users. There can be four types of such wallets: mobile, desktop, hardware, and web. It should be well known that a Bitcoin wallet or a digital wallet must have to trade the Bitcoin. But, these wallets do not store the crypto; it just stores the private keys that can be used to access the Bitcoin addresses.

The price of BTC is increased drastically in few months, and it is still having more scope for growth. Its market capitalization is more than $1 trillion, and you'll be surprised that the highest amount of Bitcoin is held by Satoshi Nakamoto. Despite not knowing the exact figures, Satoshi Nakamoto is estimated to have nearly 1 million bitcoins. He indeed tops the list of Bitcoin millionaires. Additionally, more than 100,000 Bitcoin addresses meet the qualification of having more than $1 million BTC. However, the exact number of people holding more than $1 million Bitcoin is hard to find. But, according to bitinforcharts, the precise number of accounts having more than $1 million BTC are 101,554. Out of which, only 8,110 bitcoin accounts are having more than $10 million BTC.

There are more than 46.8 million millionaires in the world as of December 2020, and more than 11 million millionaires are from the united state only. Compared to the number of millionaires, the Bitcoin accounts with millions of BTC are relatively more minor in number. Additionally, it is not always necessary that all the account holders are unique, i.e., one person can have more than one Bitcoin account, which is often done to aid risk management and also helps in enhancing privacy. So, it would mean that the actual numbers of millionaires of BTC are indeed less than 101,554. It would certainly suggest that all the world's millionaires are still not into Digital gold, and the prices of the crypto can go drastically up if they start converting their fiat to BTC.