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Non-Zero Bitcoin Addresses Reach New All-Time High of 400 Million Milestone -Breaking

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The Non-Zero Bitcoin addresses reach a new all-time high of 400 million Milestone

Since its inception, mainstream adoption of bitcoin is the mantra. Although Bitcoin may not replace fiat, the 2021 year has demonstrated that bitcoin adoption is growing rapidly.

This is confirmed by Glassnode, a blockchain intelligence and data provider. They reported that 38.76million addresses have a Bitcoin balance of at least zero.

This is the number of Bitcoin addresses having non-zero Bitcoin accounts. Glassnode

Before this milestone, 38.7 million BTC addresses were registered. The number of Bitcoin addresses has continued to increase since April, despite Bitcoin’s correction that has sent its price from $68k down to $56.8k.

BTC price drop is not a concern

Although Bitcoin is experiencing a difficult period, there has been significant on-chain activity. Additionally, institutional investors have been investing more money in Bitcoin, injecting an average of $114 million over the past week.

This has led to a reduction in the long-term holdings’ spending. Investors are not selling off Bitcoin, but instead they are buying more, convinced that Bitcoin will surpass all its highs.

To The Flipside

  • Judging the adoption of Bitcoin by the number of Bitcoin addresses has a major flaw – an individual can own more than one Bitcoin address, and exchanges can hold the BTC of multiple users in one address

Why you should care

The steady increase in bitcoin addresses is a sign that people are more open to Bitcoin.

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