August Sees Surge in Bitcoin Millionaires as Prices Rise

The Bitcoin market may be showing signs of recovery as the number of addresses holding over $1 million worth of BTC increased by 10.4% in August, with 11,636 new Bitcoin millionaires emerging.

Data compiled by Finbold and retrieved from BitInfoCharts shows that in late July there were 111,846 such wallets, while at press time on August 31, this number rose to 123,482.

This increase was also seen among the larger whales, with a 11.24% rise in the number of addresses holding over $10 million worth of BTC, from 14,009 to 15,584.

However, despite this rally, the overall number of millionaire addresses is still below the levels seen at the start of the year, when there were 131,125 wallets with over $1 million worth of BTC and 16,355 with more than $10 million.