Bitcoin Wallets with a Balance Surpass 50 Million
The recent rise of Bitcoin (BTC) to and above the $40,000 mark has had an impact on various aspects of its ecosystem, including the number of addresses holding the leading digital asset.
According to crypto market intelligence platform IntoTheBlock, there are now more than 50 million Bitcoin wallets with a balance. This represents a growth of over 17% since the beginning of the year.
Optimism Surrounding Bitcoin ETF Approvals
One of the major driving forces behind BTC’s surge is the optimism surrounding the approval of spot Bitcoin exchange-traded funds (ETFs). The crypto community believes that there is a higher chance of approval by the U.S. Securities and Exchange Commission (SEC) between January 5 and 10.
While some analysts predict a potential price correction for BTC in January after the SEC approves a spot Bitcoin ETF, others believe that the cryptocurrency will continue to rise until the upcoming halving event. Although there is no certainty about a correction next month, the risk of it occurring after the approvals is increasing.
Hot Take: Bitcoin Wallets Hit Milestone as ETF Optimism Grows
The number of Bitcoin wallets with a balance has surpassed 50 million, reflecting significant growth in 2023. This milestone comes as BTC continues its ascent above $40,000. Additionally, there is growing optimism within the crypto community regarding the approval of spot Bitcoin exchange-traded funds by the SEC. While some anticipate a potential correction in January, others believe that BTC’s surge will persist until the upcoming halving event. The ecosystem surrounding Bitcoin is evolving rapidly, and these developments demonstrate its increasing mainstream adoption and recognition as a valuable asset.
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