The last past weeks have been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of address holding atleast 1 BTC are now 1 million. According to the report, last year when the market took a deep dive, a good number of persons were wise enough to grab some bags. Although, some addresses belong to crypto exchanges and some persons might have more than one wallet address but this milestone achievement is worth celebrating.
This indicates a growing trust in bitcoin and if 1 million wallets are held by 1 million people, then it is possible that it could double that for the next year as people become more aware of the advantages of bitcoin. These numbers are not the real deal, but the increase in bitcoin adoption is certainly growing rapidly and indicates that the public is aware of how to use bitcoin now and in the future.
Fluctuating prices still place bitcoin as a valuable asset and people tend to start to realize about the store of value in the long term, so the increase in wallets also indicates that more people are holding bitcoin in the long term as an option for investment.