This BTC Bull Run Has Fewer Millionaire Whales

Crypto News – Wall Street’s acceptance of the much-anticipated spot ETFs is a defining feature of the current Bitcoin bull run. Though not as quickly as the 2020–2021 rise, the rally is still creating “millionaires.”

This BTC Bull Run Has Fewer Millionaire Whales

The top cryptocurrency, according to market value, has increased by 70% so far this year, reaching all-time highs of almost $72,000. The upswing comes after a severe bear market that saw a 155% increase in value last year.

Kaiko‘s statistics show that less than 2,000 millionaires—wallets holding $1 million worth of bitcoin—are established every day. This is a far cry from the previous bull run, which produced more than 2,000 wallets with a $10 million balance every day and over 4,000 millionaire wallets every day.

This slower growth rate of millionaires could be due to a few things: (1) New capital has yet to arrive in full force. (2) Large whales are taking profit as BTC hits new highs. (3) Whales are storing their holdings with custodians, rather than personal wallets,

Kaiko