10.3k wallets increased to 10+ BTC starting February 2022

10.3k wallets increased to 10+ BTC starting February 2022

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  • Bitcoin addresses holding 10 or more BTC grew 71% in just over a year.
  • According to on-chain data, 10,279 new BTC wallets joined the cohort holding 10+ bitcoin between February 2022 and March 2023.
  • Wallets with 10-100 bitcoin cumulatively hold over 4.4 million BTC, or roughly 23% of supply.

While cryptocurrency prices fell sharply as the bear market of 2022 saw massive contagion across the industry, the number of addresses holding 10+ bitcoins kept rising. Wallets in this category grew 71% between February 2022 and March 2023.

10.3k addresses with 10+ BTC added since February 2022

According to the latest data from crypto analytics platform Santiment, the number of addresses with more than 10 BTC have increased by 10,279 since February 2022.

Per the data, total bitcoin holdings within this cohort remain largely stagnant. However, a 71% increase in the amount of addresses for the past year or so sees these wallets’ overall holdings approach the all-time highs reached in 2019. 

Currently at 155,000 addresses, the number of bitcoin wallets with 10 or more BTC are just 2,000 less than the all-time high of September 2019, Santiment tweeted on Thursday.

Looking into bitcoin distribution data as of 30 March, about 139,864 wallets hold between 10-100 bitcoin, with total holdings of over 4.43 million coins for 23% of supply. Another 14,033 wallets currently hold 100-1000 BTC, accounting for just over 20% of supply at 3.9 million BTC.

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On-chain data also shows the largest whales, with 1k-10k bitcoin and 10k-100k BTC holdings, number 1,906 and 112 respectively. Cumulatively, these wallets hold about 6.9 million coins to account for roughly 35% of bitcoin supply.

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