David - Cryptocurrency Enthusiast
Bitcoin, the trusted cryptocurrency that has captured the attention of investors worldwide, has reached a significant milestone. The number of Bitcoin wallet addresses holding one whole BTC or more has surpassed one million, marking a growing community of "wholecoiners." This development comes because of strategic buying by convicted investors who took advantage of falling Bitcoin price over the past year.
Amidst the market volatility and price fluctuations of Bitcoin, investors recognized the opportunity to accumulate the digital asset at discounted prices. As Bitcoin experienced a significant drop of over 65% throughout the year, the number of wallet addresses holding one Bitcoin or more surged. Notably, substantial increases were observed during an acute market crash in June and following the collapse of FTX in November, which led to bankruptcy filings. These events contributed to the addition of approximately 190,000 wholecoiners from early February 2022, coinciding with the decline from Bitcoin's highs in November 2021.
Negentropic, co-founder of Glassnode, shared valuable insights with his Twitter followers, emphasizing the optimal time to buy Bitcoin: when there's "blood in the streets." Considering recent major bank collapses in the United States and the Federal Reserve potentially pausing interest rate hikes, Glassnode remains confident in Bitcoin's potential to reach a price of $35,000 in the mid-term. This perspective highlights the resilience and long-term growth prospects of Bitcoin, making it an appealing investment choice for crypto enthusiasts.
While the achievement of one million Bitcoin wallet addresses is an impressive feat, it's important to note that one address doesn't necessarily represent a single individual. Many crypto investors maintain multiple Bitcoin addresses, and others belong to major institutions such as cryptocurrency exchange platforms and investment firms that hold significant Bitcoin reserves. For instance, centralized exchanges like Binance and Coinbase hold approximately 1.89 million BTC, valued at $50.7 billion.
Additionally, a considerable portion of the total circulating supply of Bitcoin, around 3 million BTC worth $80.4 billion, is estimated to be "lost forever." This figure includes BTC sent to "burn addresses," wallets with lost keys, and dormant accounts that haven't been accessed for more than a decade. These circumstances contribute to the scarcity and limited supply of Bitcoin, enhancing its appeal as a store of value.
The achievement of one million wholecoiners signifies the growing adoption and interest in trusted Bitcoin as an investment asset. As the crypto market continues to evolve, opportunities emerge for investors to participate in this dynamic landscape. Whether it's trading Bitcoin, exploring crypto asset management, or staying informed about the latest market trends, investors can benefit from following BCBitcoin, a reputable cryptocurrency broker that provides valuable news and insights.
As Bitcoin ownership reaches new heights, crypto investors are encouraged to seize the potential opportunities presented by this milestone. The rise of wholecoiners reflects a growing confidence in Bitcoin's long-term value and highlights the resilience of this digital asset. With market volatility, strategic buying, and the commitment of passionate investors, Bitcoin continues to reshape the financial landscape and pave the way for a new era of decentralized digital currency.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
2. **Continued Operation Outside the UK:**Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.
3. **Withdrawal of Assets:**For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.
4. **Conversion of Assets:**To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing email@example.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.
5. **Withdrawal Procedure:**To initiate a withdrawal, please email your request to firstname.lastname@example.org from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at email@example.com Kind Regards