Since the first Bitcoin (BTC) investors became millionaires and the ecosystem became more and more popular with the spread of the Internet, because people all over the world buy as many BTC as possible – even if it’s just a few satoshis.
Bitcoin has recently fallen to below $20,000 for the first time since 2020. For retail investors, this was an opportunity to fulfill the dream of owning at least 1 BTC. On June 20, Cointelegraph reported that the number of Bitcoin wallet addresses holding one BTC or more has increased very significantly in just 7 days.
The total number of addresses holding 1 BTC has decreased again shortly after, but the crypto community on Reddit continues to welcome new crypto investors who have become so-called wholecoiners. These are people who own a whole BTC.
Reddit post of new “wholecoiners”. Source: Reddit
Redditor arbalest_22, from whom the screenshot above is taken, stated that he had spent a total of about $ 35,000 over several months since February 14, 2021 to get to 1 BTC. In order to further support the Bitcoin ecosystem, the Reddit user wants to continue buying satoshis until he has over 2 BTC.
Arbalest_22 initially bought BTC from the crypto exchange Coinbase, but later switched to Strike because of the lower fees. He also talked about his future plans:
“I hope that in the future I will be able to do with him what rich people do with their real estate. I want to use it as collateral for loans. If he then rises, I pay off the old loan with a new one. Boom, tax-free income.”
Reddit user Evening-Main-5860 also stated that he was able to buy 1 BTC. He used the average cost effect and regularly bought smaller BTC amounts over a long period of time:
“I was able to catch the falling knife and buy enough to make it across the finish line. It wasn’t easy. I am a normal person with a normal life.”
Data on wallet addresses with at least 1 BTC. Source: Glassnode
Between June 15 and 25, the total number of Bitcoin wallet addresses holding more than 1 BTC increased very significantly, according to data from Glassnode.
In this context: “Bitcoin dead” – searches for the “death” of BTC on Google at a record high
Some people consider falling BTC prices as a buying opportunity. On Google Trends, on the other hand, it becomes clear that some investors also believe that Bitcoin is “dead”.
Google searches for “bitcoin dead” hit all time highs over the weekend. pic.twitter.com/oDXNqGEeIL
– Alex Kruger (@krugermacro) June 20, 2022
The Google search results suggest that fear has reached a peak in the cryptocurrency market, as prices have been falling inexorably for weeks.
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